Niko Resources Limited vs Union Of India & on 26 March, 2015
15. We are conscious that the order of the Supreme Court does not
take within its fold any pending appeal before the Tribunal.
Strictly speaking therefore counsel for the petitioner may be
correct in contending that there is no stay against the Tribunal
proceeding further in such tax appeals. However, in the present
case, it is not the question of the legality of power on part of the
Tribunal, but propriety in proceeding or not proceeding with the
appeals. When admittedly one of the issues involved in such tax
appeals is of the effect of clause (iv) of newly substituted sub-
section (9) of section 80IB of the Act and consequently, the
ratio laid down by the High Court in case of Niko Resources
Ltd. (supra), the Tribunal cannot be faulted for deciding not to
proceed further with the bunch of appeals till the Supreme
Court finally cleared the issues. We see no impropriety or legal
error in the Tribunal choosing this option.