Amendment in Section 254(2A) | Directory or Mandatory? | Case referred to President of ITAT

Tata Education and Development Trust Vs ACIT (ITAT Mumbai) The issue under consideration is regarding application of Stay of Demand in front of Tribunal, whether the amendment done by Finance Act, 2020 in Section 254 will be applicable in present case? In the present case, the assessee applicant seeks a stay on collection/recovery of the amount of tax and interest etc. With respect to the amendment to Section 254(2A) vide Finance Act, 2020, learned counsel for the assessee submitted that this amendment is only directory, not mandatory, in nature, and it does not curtail the powers of the Tribu...