Stay Rejected for Non-Payment of 20% Demand: Madras HC Upholds CBDT Guidelines

Rasheed Ali And Sons Vs ITO (Madras High Court) The Madras High Court addressed a Writ Petition filed by Rasheed Ali And Sons (Petitioner), a non-exclusive dealer of M/s. Indian Oil Corporation Limited engaged in retail trading of petrol and diesel, challenging an impugned order dated December 14, 2024, passed by the First Respondent. The Petitioner sought to quash this order and consequentially stop all coercive recovery action until the disposal of an appeal filed on May 31, 2024, against an assessment order for the Assessment Year (AY) 2019-2020. The background involves the Petitioner recei...