https://www.taxtmi.com/caselaws?id=243871 The High Court granted a complete stay on the tax demand pending appeal for a partnership firm seeking deduction under section 80IB(10) of the Income Tax Act, 1961. The Court found a strong prima facie case in favor of the petitioner, emphasizing reliance on a previous court decision and dismissing the appeal by the Supreme Court. The judgment highlighted that the observations were preliminary, and the appeal would be independently decided. The Court considered the Assessing Officer's minor disallowance of interest insignificant compared to overall disallowances, providing relief to the petitioner without costs. en-us Wed, 29 Jan 2014 00:00:00 +0530 Wed, 12 Feb 2014 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243871 The High Court granted a complete stay on the tax demand pending appeal for a partnership firm seeking deduction under section 80IB(10) of the Income Tax Act, 1961. The Court found a strong prima facie case in favor of the petitioner, emphasizing reliance on a previous court decision and dismissing the appeal by the Supreme Court. The judgment highlighted that the observations were preliminary, and the appeal would be independently decided. The Court considered the Assessing Officer's minor disallowance of interest insignificant compared to overall disallowances, providing relief to the petitioner without costs. Case-Laws Income Tax Wed, 29 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243871