https://www.taxtmi.com/caselaws?id=257431 The High Court upheld the rejection of the petitioner's application for approval under Section 80IA(4)(iii) of the Income Tax Act, 1961. The Court found that the impugned order was a speaking order, emphasizing inconsistencies in the petitioner's data submissions and shifting positions regarding area allocations for industrial and commercial activities. Due to insufficient evidence to support approval, the Court dismissed the petition, noting the factual nature of the grievances and lack of arbitrariness. The petitioner's request for a stay was also denied as the assessment order had been issued, and the petitioner failed to comply with deposit requirements or offer suitable security. en-us Fri, 20 Feb 2015 00:00:00 +0530 Thu, 12 Mar 2015 07:05:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257431 The High Court upheld the rejection of the petitioner's application for approval under Section 80IA(4)(iii) of the Income Tax Act, 1961. The Court found that the impugned order was a speaking order, emphasizing inconsistencies in the petitioner's data submissions and shifting positions regarding area allocations for industrial and commercial activities. Due to insufficient evidence to support approval, the Court dismissed the petition, noting the factual nature of the grievances and lack of arbitrariness. The petitioner's request for a stay was also denied as the assessment order had been issued, and the petitioner failed to comply with deposit requirements or offer suitable security. Case-Laws Income Tax Fri, 20 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257431