Assessee first approached Tax Recovery Officer seeking stay of demands pending appellate and revisional proceedings. Tax Recovery Officer insisted that assessee must deposit 50% of tax demand to avoid recovery of rest. PCIT directed to pay 20% of tax demand. High Court held that assessee would have arguable points against many of additions made by AO. Nature of additions concerns finding of bogus purchases and inflated premium and share application money besides others. Therefore, assessee would deposit 5% of principal tax demand arising out assessment orders for AY. 2009-10, 2010-11, 2011-12.<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 225 : Collection and recovery-Stay of proceedings\u2013Pendency of a appellate and revision proceedings\u2013Tax recovery officer demanded for 50% of tax demand-PCIT directed to pay 20 % of tax demand\u2013On writ High Court directed to pay only 5% of tax in dispute. [S. 226, 264 Art. 226]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8983","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2kT","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=8983"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8983\/revisions"}],"predecessor-version":[{"id":8984,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8983\/revisions\/8984"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}