Taxpayers allowed to challenge assessment order with application for waiver of 20% deposit requirement under CBDT Memoranda.

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....The SC permitted petitioners to challenge the assessment order for AY 2022-2023 before CIT (Appeals) with an application for stay and waiver of the 20% deposit requirement under CBDT Office Memoranda dated 29.02.2016 and 31.07.2017. The Court directed that if an appeal is filed within five days, it should not be dismissed on grounds of limitation, considering petitioners had previously approached the High Court. The SC also ordered that no coercive recovery measures be taken for ten days. The Court noted that 30% of the tax demand for AY 2021-2022 had already been recovered through coercive measures. The SLP was disposed of accordingly.....