Legislative Interference in Tribunal’s Judicial Discretion to grant stay of demand – ‘Courtesy’ Finance Act, 2020
Present time may not be the best time to discuss a recently introduced depressing attempt & regressive amendment made to section 254(2A) of the Income Tax Act, 1961 by the Legislature, given an all pervading state of despondency due to the spread of COVID -19 pandemic. The spanner thrown by the legislature this time & enacted by the Finance Act, 2020 is in the form of yet another fetter (this time much more substantive & ‘lethal’) on the judicial power of the Income Tax Appellate Tribunal (hereinafter called ‘tribunal’) to grant stay of tax demands.
