Dismissing the petition the Court held that the Assessing Officer was justified in not exercising the discretion to grant unconditional stay or stay on payment of lesser amount than 20 per cent. of the tax demand. The Assessing Officer while rejecting the case of the assessee had recorded reasons in great detail. The Commissioner while rejecting the revision application had recorded reasons why the order passed by the Assessing Officer shall not be interfered with. There was no infirmity in the order passed by the Assessing Officer or by the Commissioner. (AY. 2015-16)
Mascot Construction Co. v. PCIT (2022) 446 ITR 719 / 213 DTR 449 / 326 CTR 863 (Bom.)(HC)
S. 220 : Collection and recovery-Assessee deemed in default-Stay of demand-Deposit of 20 Per Cent. of demand-Order is held to be justified. [Art. 226]