Karnataka HC allows Income Tax Refund of amount Beyond 20% in Stayed Tax Demand

Karnataka Golf Association Vs DCIT (Karnataka High Court) Karnataka High Court directs department/ respondents to refund of entire amount in excess of 20% for the assessment years 2022-2023 and 2019-20 together with interest in case the demand is stayed. Facts- The issue involved in the present petition is that respondents are directed to refund entire amounts payable to the petitioner in excess of 20% of the demands for disputed Assessment Year. It is also pertinent to note that on 24.01.2024 and 08.2024, the first respondent issued a letter granting stay of demand for Assessment year under d...