TMI Blog2015 (2) TMI 993X X X X Extracts X X X X X X X X Extracts X X X X ..... sidered in light of the above referred view taken by this Court, the decision for rejection of the stay application at Annexure-S (Page 372) cannot be sustained in the eye of law. Hence, the same deserves to be quashed and set aside with the further direction that the stay application shall stand restored to the file of the competent appellate authority and the stay application shall be considered on merits and appropriate decision shall be taken after recording reasons. - Decided in favour of assessee for statistical purposes. - Special Civil Application No. 826 of 2015 - - - Dated:- 13-2-2015 - Jayant Patel And S. H. Vora,JJ. For the Appellants : Mr Yatin Oza, Ld. Sr. Counsel With Mr Rajesh K Savjani, Adv. For the Respondent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ming the benefit under section 10A, though wrongly typed as 10B of the Income Tax Act, 1961 (hereinafter referred as the Act ). It is also not in dispute that the petitioner preferred stay application. However, below stay application, vide order dated 25.08.2014 (Annexure D), the said stay application has been initially granted on the condition to furnish the bank guarantee, but subsequently, as the bank guarantee was not furnished, the application is dismissed. Under the circumstances, the present petition beforethis Court. 4. We have heard Mr.Soparkar, learned counsel appearing for the petitioner and Mr. Nitin Mehta, learned counsel appearing for the respondents. 5. The perusal of the order dated 28.07.2014 as well as order dated 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f any reasons, the order cannot be sustained. 6. In view of the aforesaid, the impugned order dated 28.07.2014 (AnnexureC) and the subsequent order dated 25.08.2014 (AnnexureD) based on the earlier order, are quashed and set aside with the further direction that the stay application shall stand restored to the CIT (Administration) and the stay application shall be considered on merits and appropriate decision after recording the reasons shall be passed. It would also be open to the petitioner to move CIT (Administration) for early hearing of the appeal and if such prayer is made, we are sure that the competent authority shall make attempt to dispose of the appeal. In any event, until fresh order is passed below the stay application and/o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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