Stay order need to be reasoned order and should not be a mere direction to pay

LG Electronics India Private Limited Vs PCIT (Delhi High Court) Mr. Deepak Chopra, learned counsel for the Petitioner, has produced before this Court a copy of OM dated 31st July, 2017 which modifies the earlier OM, dated 29th February, 2016, issued by the Central Board of Direct Taxes (‘CBDT’), stating that standard rate for grant of stay had been revised from 15% to 20% of the disputed demand. The impugned order clearly makes no reference to the central issue in the pending appeal or the grievance of the Petitioner regarding the order passed by the AO. The impugned order in short is w...