ITO Must Consider Facts for Pre-Deposit Reduction; 20% Rule Not Absolute: Madras HC

VME Infrastructure Private Limited Vs ITO (Madras High Court) Madras High Court has set aside an order by the Income Tax Officer (ITO) that mandated a 20% pre-deposit of tax for a taxpayer seeking interim relief pending an appeal. The court, in the case of VME Infrastructure Private Limited Vs. ITO, reiterated that assessing officers have the discretion to allow a lower deposit amount based on individual case facts, despite administrative circulars. The petitioner, VME Infrastructure Private Limited, had filed an appeal against an assessment order before the Commissioner of Income Tax (Appeals...