AO & CIT can grant stay on payment of amounts lesser than 15%/ 20%

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 t...