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Stay on recovery of demand cannot be rejected merely relying on CBDT instruction
Case Law Details
- Case Name
- M/s. Shriram Finance Vs Pr. CIT (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All High Courts, Madras High Court
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M/s. Shriram Finance Vs Pr. CIT (Madras High Court)
Conclusion: Since CIT rejected assessee’s application for stay of recovery of demand merely relying of CBDT instruction which was cryptic and non-speaking as CBDT circular/instruction could not serve as a series of guidelines in the matter of grant of stay, therefore, the matter was remanded back to CIT for disposal afresh in accordance with law.
Held: In the present case, assessee had suffered an order of re-assessment and the same was pending in appeal before CIT (Appeals).Therefore, assessee after rejection by AO of st...
