Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (12) TMI 1209 - HC - Income TaxGrant stay - Held that:- The assessee has succeeded before the Income Tax Appellate Tribunal. Mere admission of substantial question of law does not mean that we should stay the impugned order or the consequential effect. If the Revenue succeeds in the appeal, consequences will flow and necessary orders will be passed. There are several issues, which arise for consideration, including the question, whether the photocopies of the balance sheets etc. recovered can be treated as sufficient documents for initiation of proceedings under Section 153C of the Income Tax Act, 1961. The other question, which arises for consideration, is whether any satisfaction is required to be recorded before proceedings are initiated under Section 153C of the Income Tax Act, 1961. Question of limitation is also raised. Application dismissed.
|