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2012 (6) TMI 511 - HC - Income TaxApplication for Interim stay of the order of Assessing officer, during the pendency of the appeal - rejection by Appellate Authority expressing reservation about his powers to grant the interim order - Held that:- In present case, Appellate Authority has not proceeded to appreciate the points raised by the petitioners in support of his prayer for grant of interim order based on materials available before him. Instead, he has ventured into discussions which are irrelevant and impermissible having regard to the binding precedent in the form of a direction issued by the Division Bench. Appellate authority shall consider the application for stay filed by the assessee on merits and in accordance with law. It is made clear that he has inherent power to grant or not to grant stay though such power is expressly conferred on him u/s 246-A. Impugned orders are quashed. Writ petitions allowed.
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