Demand Stayed as Tribunal Found Prima Facie Case on Section 54 Claim

Reema Chawla Vs ACIT (ITAT Delhi)

Stay Application in SA No. 59/Del/2025 for Assessment Year 2022–23 arises from the assessee’s pending appeal in ITA No. 306/Del/2025. The assessee, a non-resident individual, sought stay of an outstanding income-tax and interest demand amounting to Rs. 42,60,429 until disposal of the appeal. The assessee filed a return declaring total income of Rs. 41,88,818 after claiming exemption under Section 54 of the Income Tax Act. The exemption claim related to the sale of her 50% share in a residential property in Panchsheel Park, New Delhi, for Rs. 6,

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