(1.) The instant is an appeal preferred by the appellant under Sec. 260-A of the Income Tax Act, 1961 assailing the order passed by the Income Tax Appellate Tribunal (for short, 'the Tribunal') in I.T.A.No.297/Hyd/2012, dtd. 25/5/2012 (for short, 'the impugned order').
(2.) Heard Mr. C.V. Narsimham, learned counsel for the appellant and Mr.Vijhay K. Punna, learned Senior Standing Counsel for the respondent - Department.
(3.) Vide the impugned order, the Tribunal partly allowed the appeal and dismissed the stay application filed by the appellant.