Case Law Analysis
|Income Tax Appellate Tribunal
Section 254(2A) IT Act | 20% Deposit for Stay of Demand Mandatory Unless Assessee Demonstrates Financial Hardship : ITAT Kolkata
ITAT Kolkata reinforces that assessees must deposit at least 20% of the disputed tax demand to secure a stay under Section 254(2A) of the Income Tax Act, unless they can prove undue financial hardship. The ruling clarifies procedural compliance requirements for taxpayers seeking interim relief during appeals, impacting all direct tax litigation involving stay applications.