The High Court of Madras has held that the Income-tax Act does not provide

The High Court of Madras has held that the Income-tax Act does not provide 

The High Court of Madras has held that the Income-tax Act does not provide for any pre-condition for grant of stay of recover and the Office Memorandum F.No. 404/72/93-ITCC dated 31-7-2017 only increases the rate of disputed demand from 15% as set out under Instruction No. 1914 dated 21-3-1996 to 20%. However, the actual tax to be demanded, ranging from 0% to 100%, would depend upon the existence of three factors, viz., (i) prima facie case, (ii) financial stringency and (iii) balance of convenience and the officer would only dispose of an application for stay after considering the aforementioned factors. (Karangipully Vinothkumar vs. Income-tax Officer)



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