9911796707
TMI Blog2022 (7) TMI 1523X X X X Extracts X X X X X X X X Extracts X X X X ..... made u/s 35(2AB) - as submitted that in case the claim u/s 35(2AB) of the Act, is not being granted to the assessee then, deduction equivalent to 100% of the expenditure deserves to be allowed u/s 37 - An apparent error has crept in the order of the Dispute Resolution Panel (DRP) and the assessee has filed an application for rectification and if the application before the DRP is disposed off, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... occurs first. c) In other words, it is made clear that the stay is being granted by keeping in mind that rectification application is pending. In case it is decided then, revenue will be at liberty to take appropriate action, if any, available against the assessee for recovery of the demand. d) The Registry is directed to list the appeal for hearing on out of turn basis on 24th August, 2022. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eduction @ 100% of the expenditure which has been disallowed to it. He submitted that in case the claim u/s 35(2AB) of the Act, is not being granted to the assessee then, deduction equivalent to 100% of the expenditure deserves to be allowed u/s 37 of the Act. An apparent error has crept in the order of the Dispute Resolution Panel (DRP) and the assessee has filed an application for rectification. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion filed for rectification before the DRP. Until and unless that application is decided no demand will be recovered from the assessee. b) This order shall remain in operation for a period of 180 days or till the decision of the main appeal, whichever event occurs first. c) In other words, it is made clear that the stay is being granted by keeping in mind that rectification application is pending. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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