Stay of Income-tax demand – whether 20% of disputed tax is mandatory
Stay of Demand and the 20% Recovery Rule: Statutory Framework, CBDT Instructions and Judicial Reinforcement by the Bombay High Court The power of the Income-tax Department to recover tax demand during the pendency of appellate proceedings is statutorily traceable to section 220 of the Income-tax Act, 1961, which provides that any amount specified as … Read more