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2013 (7) TMI 450 - HC - Income TaxRecovery - Stay application u/s 220(6) – Held that:- It would be appropriate to allow the Appellate Commissioner to decide whether and on what conditions the recovery pending appeal should be stayed -the recovery notice was issued even without waiting for the limitation period for filing the appeal to expire - Particularly, when the petitioner was a Government company, we wonder why such extraordinary urgency was shown- Court relied upon the decision of UTI Mutual Fund v. Income-Tax Officer (2012 (3) TMI 333 - BOMBAY HIGH COURT ) in which the demand notice was quashed and recovery was suspended till the appeal is decided. Appellate Commissioner would have the power to grant stay pending appeals - ITAT would have inherent powers to grant stay pending appeal and also relied on section 220(6) of the Income Tax Act, which authorises the Assessing Officer where the appeal is pending on his discretion and subject to such conditions as he may think fit to treat the assessee as not being in default in respect of the amount in dispute in the appeal – petition decided in the favour of the assesse.
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