PCIT Vs LG Electronics India Pvt Ltd (Supreme High Court)
Hon’ble Supreme Court held that CBDT’s Office Memorandum (‘OM’) dated 29th February, 2016 & 31.07.2017 by which AO’s have been directed to grant stay of disputed demand on payment of 20%/ 15% does not fetter the power of the AO & CIT to grant stay on payment of amounts lesser than 15%/ 20%.
FULL TEXT OF THE SUPREME COURT JUDGMENT / ORDER IS AS FOLLOWS:-
Having heard Shri Vikramjit Banerjee, learned ASG appearing on behalf of the appellant, and giving credence to the fact that he has argued before us that the administrative Circular will not operate as a fetter on the Commissioner since it is a quasi judicial authority, we only need to clarify that in all cases like the present, it will be open to the authorities, on the facts of individual cases, to grant deposit orders of a lesser amount than 20%, pending appeal.
Read High Court Order- Stay order need to be reasoned order and should not be a mere direction to pay
