Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
Exemption under s.10(23C)(iiiad) upheld; appeal allowed, interest and dividends excluded from annual receipts, disallowance deleted, capital gains exe...
The HC held that the impugned order refusing the stay application concerning demand/partial payment is cryptic and devoid of any application of mind to the specific grounds advanced by the applicant; accordingly the impugned order is set aside and the matter is remitted to the CIT (Exemption) for de novo consideration. The CIT (Exemption) is directed to frame and decide the stay application on the merits, dealing with each pleaded ground, and to pass a reasoned order in accordance with law within a reasonable time, preferably within four weeks from receipt of a copy of this order. Costs are left in the discretion of the remitting authority.
The HC held that the impugned order refusing the stay application concerning demand/partial payment is cryptic and devoid of any application of mind to the specific grounds advanced by the applicant; accordingly the impugned order is set aside and the matter is remitted to the CIT (Exemption) for de novo consideration. The CIT (Exemption) is directed to frame and decide the stay application on the merits, dealing with each pleaded ground, and to pass a reasoned order in accordance with law within a reasonable time, preferably within four weeks from receipt of a copy of this order. Costs are left in the discretion of the remitting authority.
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