Tribunal Grants Partial Stay on Tax Demand After 20% Deposit Condition

Chand Jewellers Vs ITO (ITAT Amritsar) The assessee, a partnership firm engaged in the jewellery business, filed a stay application under the first proviso to section 254(2A) of the Income Tax Act, 1961, seeking a stay on the demand raised for Assessment Year 2017–18. The application was linked to an appeal pending before the ITAT Amritsar (ITA No. 574/Asr/2025) against the order of the CIT(A), NFAC, Delhi, dated 10 June 2025. The assessee had originally filed a return declaring total income of ₹1,52,910, which was later reassessed at ₹1.05 crore under section 147 read with section 144B,...