stay of demand, Income Tax

[satbir singh wahi]

The A.O. has given order u/s 143(3) , and raised demand of Rs. 10 lacs . The assessee is going for appeal with CIT (Appeals). Whether demand of Rs. 10 lacs can be kept in abeyance till the disposal of appeal ?  What is the procedure for stay of demand.

Posts / Replies

[Rama Krishana]

You may submit an applicable to grant of stay before the AO or before the CIT(A) or higher forum, as the case may be, to keep the recovery proceedings in abeyance. If no stay is granted, revenue may initiate recovery Proceedings.