Section 415 — Stay of proceedings in pursuance of certificate and amendment or cancellation thereof
Old Act equivalent: 226 of IT Act 1961 Sub-part: D—Collection and Recovery
Statutory Text
- (1) The Tax Recovery Officer may grant time for the payment of any tax and, till the expiry of such time, shall stay the recovery proceedings for such tax. (2) Where a certificate has been drawn up and subsequently, the amount of the outstanding demand is reduced56 as a result of the order giving rise to the said demand, being modified in an appeal or other proceeding under this Act, the Tax Recovery Officer shall—
(a) if the order is the subject-matter of further proceeding under this Act, stay the recovery of such part of the amount specified in the certificate as pertains to the said reduction for the period for which the appeal or other proceeding remains pending; or
(b) if the order which was the subject-matter of such appeal or other pro ceeding has become final and conclusive, amend the certificate, or cancel it. Other modes of recovery.
Provisos
None.
Explanations
None.
Tables
None.
Key Structure
- Applies to: TRO and defaulting assessee.
- Conditions: TRO may grant time for payment and stay recovery; certificate may be amended or cancelled by AO.
- Time limits: As granted by TRO.
- Monetary limits: None.
- Exceptions: None.
Cross-References
None identified.
Amendment Notes
None noted from the extracted pages.