https://www.taxtmi.com/caselaws?id=425605 A writ court will not undertake a prima facie determination of disputed ownership central to tax deduction liability where the issue depends on evidence and is pending in appeal. In a challenge to a stay order under the Income-tax Act, the Court held that the ownership question concerning the foreign financial institution could not be conclusively or even prima facie decided in writ proceedings, and that merits should not be prejudged in stay jurisdiction. The Court also found that financial hardship was not established on the record, as the petitioner had not shown operational losses for the relevant year. The stay order was upheld and the appeal was directed to be disposed of within a fixed time. en-us Mon, 18 Jul 2022 00:00:00 +0530 Mon, 27 Feb 2023 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425605 A writ court will not undertake a prima facie determination of disputed ownership central to tax deduction liability where the issue depends on evidence and is pending in appeal. In a challenge to a stay order under the Income-tax Act, the Court held that the ownership question concerning the foreign financial institution could not be conclusively or even prima facie decided in writ proceedings, and that merits should not be prejudged in stay jurisdiction. The Court also found that financial hardship was not established on the record, as the petitioner had not shown operational losses for the relevant year. The stay order was upheld and the appeal was directed to be disposed of within a fixed time. Case-Laws Income Tax Mon, 18 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425605