The assessee filed an application for stay as the appeal is pending before the CIT(A). The stay application was rejected and directed to pay 20 per cent of demand. On writ single judge dismissed the petition. On appeal division bench granted stay till disposal of appeal subject to payment of 10 per cent of demand. (AY. 2015-16)
Treadsdirect Ltd. v. ACIT (2024) 296 Taxman 28 (Mad.)(HC)
S. 220 : Collection and recovery-Assessee deemed in default-Stay-Pendency of appeal before CIT(A)-Granted stay till disposal of appeal subject to payment of 10 per cent of demand-Order os single judge is set aside..[S. 250, Art. 226]