https://www.taxtmi.com/caselaws?id=304454 Interim stay was granted against the judgment quashing the Look Out Circular. The Court noted the appellant's reliance on pending investigations, search material, proposed tax additions, and the claimed risk to the country's economic interests, and found a prima facie case in the appellant's favour. It also held that the balance of convenience supported preserving the impugned order from immediate operation, since refusal of stay would cause irreparable loss to the appellant. The respondents' objection to stay was not accepted on the material then before the Court. en-us Thu, 03 Feb 2022 00:00:00 +0530 Tue, 27 Sep 2022 07:16:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304454 Interim stay was granted against the judgment quashing the Look Out Circular. The Court noted the appellant's reliance on pending investigations, search material, proposed tax additions, and the claimed risk to the country's economic interests, and found a prima facie case in the appellant's favour. It also held that the balance of convenience supported preserving the impugned order from immediate operation, since refusal of stay would cause irreparable loss to the appellant. The respondents' objection to stay was not accepted on the material then before the Court. Case-Laws Income Tax Thu, 03 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304454