High Court Clarifies Limits on Extending Stay of Demand Beyond 365 Days in Income Tax Cases; Justification Required.

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....Extension of stay of demand beyond the period of 365 days - on expiry of every 180 days, the appellant / assessee is required to make an application to extend stay granted earlier - However, at the same time, it may not be construed that widest powers are given to the Appellate Tribunal to extend the stay indefinitely - HC....