Power to Grant Stay should be exercised judiciously

Seven Seas Hospitality Private Limited Vs PCIT (Delhi High Court) In the present case, the impugned orders are non-reasoned orders inasmuch as dept have not considered the submissions of the Petitioner in the stay applications and thus, the discretion vested in department has not been exercised judiciously. Further, neither the Assessing Officer nor the PCIT have considered the three basic principles i.e. the prima facie case, balance of convenience and irreparable injury while deciding the stay application. Consequently, the impugned orders and notices are set aside and the matter is remanded...