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2014 (2) TMI 468 - HC - Income TaxStay of demand - Calim of deduction u/s 80IB(10) of the Act – Held that:- There is a strong prima facie case that the case of the petitioner for deduction under section 80IB(10) of the Act is governed by the decision of this Court in the case of Commissioner of Income-tax Versus Radhe Developers [2011 (12) TMI 248 - GUJARAT HIGH COURT] – it would be gross inconvenience would be caused to the petitioner if pending the appeal, the petitioner is required to deposit 50% of the tax demand - Thus, the communication dated October 30, 2013 of the Commissioner (Appeals) is quashed - There shall be complete stay of the tax demand against the petitioner pending the appeal - the observations are prima facie and the appeal shall be decided independently – thus, in addition to disallowing deduction u/s 80IB(10) of the Act – Decided in favour of Assessee.
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