Regarding petition for stay of demand - Income Tax - 500 / CBDT

INSTRUCTION NO. 500/CBDT Dated : January 20, 1973 Tax Act, 1961 Section(s) Referred: 220(6) It has been represented to the Board that petitions for stay of collection of demand are lightly dealt with by the Income-tax Officers. The Income-tax Officers either reject them on hand without assigning any reasons or do not dispose them of at all. Consequently, the assessees are unaware about the fate of the petitions made by them. 2 . The Board desire that petitions for stay of collection of demand should be decided by the Income-tax Officers promptly and with due care. Wherever possible reasons for rejection of the petitions should be clearly given. 3. These instructions may be brought to the notice of all officers working under your charge.