https://www.taxtmi.com/caselaws?id=178756 The High Court granted exemption in an application subject to all just exceptions but declined to grant a stay in the appeal, highlighting the assessee's success before the Income Tax Appellate Tribunal. The Court emphasized that the mere admission of a substantial question of law did not warrant a stay of the impugned order. Various issues were discussed, including the sufficiency of photocopies of balance sheets and the requirement of recording satisfaction before initiating proceedings under Section 153C of the Income Tax Act, 1961. Ultimately, the Court dismissed the application. en-us Fri, 05 Dec 2014 00:00:00 +0530 Fri, 12 Feb 2016 10:05:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178756 The High Court granted exemption in an application subject to all just exceptions but declined to grant a stay in the appeal, highlighting the assessee's success before the Income Tax Appellate Tribunal. The Court emphasized that the mere admission of a substantial question of law did not warrant a stay of the impugned order. Various issues were discussed, including the sufficiency of photocopies of balance sheets and the requirement of recording satisfaction before initiating proceedings under Section 153C of the Income Tax Act, 1961. Ultimately, the Court dismissed the application. Case-Laws Income Tax Fri, 05 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178756