Bombay High Court stays ₹32.39 crore income tax demand notice to PayPal

The online payment processing company has approached the High Court challenging the demand notice and penalty notice issued to PayPal with respect to its income in the assessment year 2020-21.
PayPal, Bombay High Court
PayPal, Bombay High Court

The Bombay High Court has stayed an income tax demand and penalty notice issued to online payment processing company, Paypal, demanding a payment of ₹32.39 crores for allegedly underreporting its income for the assessment year (AY) 2020-21 [PayPal Payments v. ACIT & Ors.].

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