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2013 (10) TMI 225 - HC - Income TaxExemption u/s 10 (26AAB) - income of an agricultural produce market committee or board - Business of supply of essential commodities for general public - Held that:- petitioner has been granted exemption by the First Appellate Authority. Though the department has preferred an appeal before the Tribunal, yet no order has been passed. Since the appeal of the department is pending adjudication, we are refrained ourselves from making any observations - In Union of India v. Kamlakshi Finance Corpn. Ltd. [1991 (9) TMI 72 - SUPREME COURT OF INDIA] it was held that, mere fact that the order of the appellate authority is not "acceptable" to the department - in itself an objectionable phrase - and is the subject matter of an appeal can furnish no ground for not following it unless its operation has been suspended by a competent court The writ petition is disposed of finally with a direction that the proceedings pertaining to the Assessment Year 2010-11 shall be kept in abeyance, till disposal of appeal filed by the department before the Tribunal. - Decided against assessee.
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