https://www.taxtmi.com/caselaws?id=237770 The High Court held that the petitioner, a government-owned corporation, was entitled to exemption under Section 10 (26AAB) of the Income-tax Act for the assessment year 2009-10. Despite the department's challenge before the Tribunal, the Court emphasized the importance of following orders of higher appellate authorities and directed a stay of proceedings for the assessment year 2010-11 until the appeal was resolved. The Court relied on the precedent set in Union of India v. Kamlakshi Finance Corpn. Ltd. to support its decision. en-us Tue, 19 Feb 2013 00:00:00 +0530 Mon, 07 Oct 2013 22:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237770 The High Court held that the petitioner, a government-owned corporation, was entitled to exemption under Section 10 (26AAB) of the Income-tax Act for the assessment year 2009-10. Despite the department's challenge before the Tribunal, the Court emphasized the importance of following orders of higher appellate authorities and directed a stay of proceedings for the assessment year 2010-11 until the appeal was resolved. The Court relied on the precedent set in Union of India v. Kamlakshi Finance Corpn. Ltd. to support its decision. Case-Laws Income Tax Tue, 19 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237770