https://www.taxtmi.com/caselaws?id=338812 The Court granted a conditional stay order in a Writ Petition challenging the rejection of a stay application against the disallowed exemption under Section 10 B of the Income Tax Act, 1961 for the assessment year 2009-10. The petitioner's contention that a prima facie case existed in their favor due to the previous allowance of the exemption was accepted. The Court ordered a stay on the operation of the order disallowing the exemption, subject to the deposit of 15% of the disputed tax within four weeks. The decision on the stay application would not impact the pending appeal, and the Writ Petition was disposed of accordingly. en-us Wed, 08 Feb 2017 00:00:00 +0530 Sat, 11 Feb 2017 10:47:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338812 The Court granted a conditional stay order in a Writ Petition challenging the rejection of a stay application against the disallowed exemption under Section 10 B of the Income Tax Act, 1961 for the assessment year 2009-10. The petitioner's contention that a prima facie case existed in their favor due to the previous allowance of the exemption was accepted. The Court ordered a stay on the operation of the order disallowing the exemption, subject to the deposit of 15% of the disputed tax within four weeks. The decision on the stay application would not impact the pending appeal, and the Writ Petition was disposed of accordingly. Case-Laws Income Tax Wed, 08 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338812