BOMBAY HIGH COURT STAYED RS 32.39 CRORE TAX DEMAND AGAINST PAYPAL AFTER IT CLAIMS STATUTORY LIMITATION FOR PASSING ASSESSMENT ORDER EXCEEDED

The Bombay High Court in the case observed and has stayed an amount of Rs. 32.39 crore tax demand and all the related proceedings which is initiated against the PayPal Payments Private Limited, an online payment processing company.

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The Division bench comprising of Justice K. R. Shriram and Justice Dr. Neela Gokhale in the case observed and has passed the ad-interim order and granted relief to the petitioners till January 31, 2024.

The court in its order stated that pending the hearing and final disposal of this petition, stay the operation of the Impugned Order, the Impugned Demand Notice, the Impugned Notice, the Impugned Penalty Notice, the Impugned Draft Order, and the Impugned TPO Order which is being passed by Respondents No.2 i.e., the Assessment Unit ITD, and the Respondent 4 i.e., the Assistant Commissioner of Income Tax.

In the present case, the company challenged actions of the Assessing Officers, National Assessment Faceless Centre, Delhi.