SC clarifies that CBDT’s
office memorandum (‘OM’) dated July 31, 2017 regarding stay of demand does not
interfere with AO’s power to grant stay on deposit of a lesser amount, pursuant
to Revenue’s appeal challenging Delhi HC judgment in LG Electronics India Pvt.
Ltd.’s (‘assessee’) case; SC gives credence to Additional Solicitor General
Vikramjit Banerjee's submission before it that the said administrative Circular
of the CBDT will not operate as a 'fetter' on the Commissioner, since it is a
quasi judicial authority; Disposing off Revenue’s appeal, SC clarifies that “in
all cases…it will be open to the authorities, on the facts of individual cases,
to grant deposit orders of a lesser amount than 20%, pending appeal.”:SC
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