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2015 (3) TMI 1272 - KARNATAKA HIGH COURTStay application - recovery proceedings - Held that:- The assessee being aggrieved by the assessment order has filed an appeal before CIT (Appeals) III – third respondent as evidenced from the appeal memorandum appended to the present writ petition which is at Annexure-D. An application for stay of re-assessment order has also been filed seeking for stay of the demand as evidenced from the stay application which is at Annexure-E. Hence, without going into the merits namely as to whether Assessing Officer was justified in disallowing the claim made by the assessee under Section 10A of the Act requires to be examined by CIT (Appeals) III in the facts and circumstances of the case and also taking into consideration the fact that CIT (Appeals) III is now seized of the matter, this Court is of the considered view that ends of justice would be met if CIT (Appeals) III – third respondent is directed to dispose of the stay application that has been filed by the petitioner expeditiously within a time frame. Since learned Sr. counsel appearing for petitioner has submitted that issue is no more res integra in view of the decision taken by the Division Bench in respect of allowability of deduction under Section 10A of the Act, this Court is of the considered view that impugned demand raised by the Assessing Officer pursuant to re-assessment order requires to be stayed till the application filed by petitioner before appellate authority – CIT (Appeals) III (Annexure-E ) is disposed of.
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