https://www.taxtmi.com/caselaws?id=269985 The court granted a stay on further recovery of the tax demand pending appeal, but ruled that the amount already recovered would not be refunded immediately. The court found errors in the valuation of closing stock and rejection of deduction under section 80IB(10). It criticized the Assessing Officer's lack of detailed reasoning for the conditional stay order. The court emphasized the need for a case-by-case assessment on recovery stays and adjusted the recovered amount upon the appeal's decision. en-us Tue, 08 Dec 2015 00:00:00 +0530 Fri, 25 Dec 2015 12:31:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269985 The court granted a stay on further recovery of the tax demand pending appeal, but ruled that the amount already recovered would not be refunded immediately. The court found errors in the valuation of closing stock and rejection of deduction under section 80IB(10). It criticized the Assessing Officer's lack of detailed reasoning for the conditional stay order. The court emphasized the need for a case-by-case assessment on recovery stays and adjusted the recovered amount upon the appeal's decision. Case-Laws Income Tax Tue, 08 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269985