20% Pre-Deposit for Income Tax Demand Stay Can Be Reviewed: Karnataka HC

Sri Vignesh Shishir Vs ITO (Karnataka High Court) 20% Pre-Deposit Not Final: Karnataka HC Directs PCIT Review of Conditional Stay Order The Karnataka High Court held that where an Assessing Officer grants stay of recovery subject to payment of 20% of the disputed demand, such an order is not final or immune from review, and the assessee has a statutory administrative remedy before the jurisdictional Principal CIT/CIT under the CBDT Office Memorandums dated 29.02.2016 and 31.07.2017. In this case, the assessee challenged the conditional stay order, contending that exceptional financial hardship...