S. 220 : Collection and recovery-Assessee deemed in default-Cash credits-Pendency of appeal before Tribunal-Not been able to make out prima facie case in its favour for stay on recovery proceedings and had also not been able to demonstrate financial stringency-Recovery proceedings is not stayed. [S. 220(6), 254(1), Art. 226]
PPK News Click Studio (P.) Ltd. v. Dy. CIT (2024) 165 taxmann.com 613 (Delhi)(HC) Editorial : Order of High Court is modified, as 30 percent of tax in dispute is recovered, stay is granted till disposal of appeal by Tribunal. PPK NewsClick Studio (P.) Ltd. v. Dy. CIT (2024) 300 Taxman 449 (SC)