2018 (11) TMI 514 - HC - Income Tax

Pre-deposit - requirement to pay 20% of the demand as precondition - stay petition - Held that - As Counsel agrees that the petitioner did deposit over 33%. In the light of the Ext.P9 departmental instructions requiring the appellant to pay 20% of the demand as precondition, reckon the Ext.P10 cannot be sustained. Accordingly, set it aside. The appellate authority will decide the petitioner s appeal on merits, expeditiously.

Summary

The Kerala High Court ruled in favor of the petitioner, a Co-operative Bank, in a dispute regarding Income Tax assessment for the year 2009-2010. The petitioner had already paid 33.8% of the total demand, exceeding the 20% required by departmental instructions. The court set aside the demand for further deposit and instructed the appellate authority to decide the appeal promptly.