No stay was granted for Income Tax demand during pendency of appeal before CIT

Advertisement PPK Newsclick Studio Pvt Ltd Vs Principal Chief Commissioner of Income Tax Central Delhi And Anr. (Delhi High Court) Conclusion: Assessee had not been able to make out a prima facie case in its favour and had a ‘lot to answer’ in the appeal. Assessee’s plea of financial stringency based on its balance-sheet also inspired no confidence as according to AO, the accounts had not been properly maintained, therefore, assessee’s application for stay of demand during the pendency of the appeal before the Commissioner of Income Tax (Appeals) against the assessment order was...