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Dear Subscriber,
Withering Of Tribunal's Stay Granting Powers – When Does The Hammer Drop?
Advocate Sukhsagar Syal has formulated the proposition that every assessee has a vested right to file an appeal and to obtain a stay of demand and that this right cannot be taken away by an amendment to the Act. He has argued that consequently the amendment to section 254 of the Income-tax Act (which takes away the Tribunal's absolute power to grant stay) will apply only to those cases where the assessment order is passed on or after 1st April, 2020. In all other cases, the Tribunal will continue to hold the power of granting stay of demand without any restriction. He has supported his proposition with an extensive reference to several case laws See Also: Digest of case laws (updated regularly) containing latest judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
Dev Milk Foods Pvt. Ltd vs. Addl CIT (ITAT Delhi)
S. 143(3)/ 292BB: Under CBDT Instruction No.5/2016, a case earmarked for 'Limited Scrutiny' cannot be taken for 'Complete Scrutiny' unless the AO forms a "reasonable view" that there is a possibility of under assessment of income. The objective of the instruction is to (i) prevent fishing and roving enquiries; (ii) ensure maximum objectivity; and (iii) enforce checks and balances upon the powers of the AO. On facts, there is not an iota of cogent material shown by the AO for the conversion from limited scrutiny to complete scrutiny. The PCIT has also accorded approval in a mechanical manner. S. 292BB does not save the infirmity. The assessment order has to be quashed as a nullity__._,_.___
Posted by: "editor@itatonline.org" <itatonline.org@gmail.com>
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