Stay Application Pending against Penalty u/s 147 of Income Tax Ac: Kerala HC stays Recovery Proceedings [Read Order]

Stay Application Pending Penalty - Income Tax Act - Kerala HC stays Recovery Proceedings - TAXSCAN

A Single bench of Kerala High Court has Stayed recovery proceedings while disposing the stay application pending gainst the penalty levied under Section 147 of Income Tax Act 1961. The petitioner, MKD Taluk Government Employees Co-Operative Credit Society Ltd was an assessee under the Income Tax Act, 1961. The petitioner was assessed for Income Tax…

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