Kerala HC Stays Income Tax Recovery Pending ITAT Appeal

SML Finance Limited VS DCIT (Kerala High Court) Kerala High Court addressed a petition filed by SML Finance Limited, challenging an assessment order for the year 2012-13 and the subsequent appellate order. During the hearing, the petitioner’s counsel focused on obtaining a stay on the recovery proceedings initiated based on these orders. The petitioner informed the court that their appeal before the Income Tax Appellate Tribunal (ITAT) had already been heard on October 1, 2024, but the order was pending, with the tribunal seeking further clarifications. The petitioner anticipated a promp...