2012 (2) TMI 350

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....ya Aiyar   For Respondents : Mr.J.Narayanasamy Standing Counsel (Income Tax)   O R D E R   This writ petition has been filed praying that this Court may be pleased to issue a Writ of Certiorarified Mandamus to call for and quash the impugned order of the fifth respondent and to direct the fifth respondent to grant stay of the collection of tax and the interest thereon, for ....

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....ear, is not an allowable deduction, which is claimed in the P&L Account on mercantile system. Various other grounds have also been raised on behalf of the petitioner.   3. The learned counsel appearing on behalf of the respondents had submitted that this Court may pass an appropriate order, protecting the interest of the respondents, keeping in view the fact that the matter involves substa....