query regarding stay period, Income Tax

[Amita Maheshwari]

this is a very general query. if a tribunal grants a stay on a person from non-payment of any interest etc. and a higher authority (eg. High Court) subsequently revokes the stay, then is there any liability to make any payment during the stay period or is the party exempted from it? mention of one or two case laws would be helpful too. thanks.

Posts / Replies

[Pradeep Khatri]

Dear Amita,

It is settled legal position that Judgments pronounced by the High Courts would be followed by the Lower Authorities including Tribunals.

You would have two options either pay it or seek a stay from the Apex Court.

Regards

Team YAGAY & SUN

[Amita Maheshwari]

Thank you for your reply.

If you could clarify it for me further - if the court revokes the stay order does that mean that the party will have to pay the amount for the stay period that was granted too?

[Pradeep Khatri]

Dear Amita,

Interest would be payable from the date of pronouncement of judgment by the Hon'ble High Court.

Regards,

Team YAGAY & SUN