TMI Blog2010 (2) TMI 862X X X X Extracts X X X X X X X X Extracts X X X X ..... erpreted to mean that this Tribunal is denuded of the powers to grant stay until case for financial stringency is successfully made out by the applicant, balance of convenience and possibilities of Revenue's rights of recovery being prejudiced by waiting till the outcome of appeals, stay petition stands allowed - Stay Petition No. 13/Mum./2010, - - - Dated:- 12-2-2010 - R.K. Gupta, Pramod Kumar, JJ. Yogesh Thar for the Appellant Vikram Gaur for the Respondent ORDER Pramod Kumar, Accountant Member 1. By this stay petition, the assessee seeks grant of stay against the recovery of Rs.13,82,64,134/-. The Assessing Officer has issued demand for recovery of Rs.20,00,21,794/- on account of Tax and Surcharge, Rs.5,36 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ands in abeyance till the final disposal of the appeal. Alternatively, he has requested for early hearing. Learned Departmental Representative, on the other hand, vehemently opposed the request of the assessee. He relied upon the Hon'ble Supreme Court's judgment in the case of C.C.E. vs Dunlop India Ltd., 154 ITR 172 (SC). 3. We have heard the rival contentions, perused the material on record and duly considered the applicable legal position as also the factual matrix of the case. While we are not inclined to go into merits of the case, suffice to say that the assessee has an arguable case and it is not a frivolous appeal. In our opinion, considering the facts and circumstances of the case, we find that this is a fit case for grant of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in which Their Lordships expressed such feelings. Their Lordships started with the observation that......" It is indeed a great pity and we wish we did not have to say it but we are signally failing in our duty if we do not do so that some Courts, of late, appear to have developed an unwarranted tedency to grant interim orders-interim orders with a grant potential for public mischief-for the mere asking. We find it more distressing that such interim orders, often ex parte and non-speaking, are made by the High Courts by entertaining writ petitions under Art. 226 of the Constitution." Their Lordships, a little later in this order, further observed that...... "There cannot be and there are no hard and fast rules. But prudence, discretion and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other hand, Tribunal's jurisdiction is akin to that of an appellate Court under the CPC, as observed in CIT vs. Hajarimal Nagji and Co. (1962) 46 ITR 1168 (Bom) and in New Indian Assurance Co. Ltd. vs. CIT (1957) 31 ITR 844 (Bom), and right to appeal before the Tribunal is provided in the statute itself. Therefore, observations of Hon'ble Supreme Court in the context of grant of stay in writ proceedings do not have the binding force on, or even direct relevance to, the principles governing grant of stay during these appellate proceedings. In this context, we are reminded of the observations of Hon'ble Supreme Court, in Mumbai Kamgar Sabha vs. Abdulbhai Faizullbhai AIR 1976 SC 1455, that......... "It is trite, going by Anglophonic princi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the inordinate delay in disposal of appeals by the Tribunal, [ITO vs. M.K. Mohd Kunhi (1969) 71 ITR 815 (SC) at p. 822], and therefore, the grant of stay by this Tribunal is always coupled with grant of an out of turn hearing which, in the present case, is to take place within three weeks from today. In the present case since the appeals are scheduled to be disposed of within next few weeks, and since admittedly there is no serious apprehension to the Revenue's rights of recovery being prejudiced by further waiting till the outcome of the appeals, the balance of convenience is in favour of not collecting the demand immediately. We are, therefore, of the considered view that Hon'ble Supreme Court's observations in Dunlop's case (supra) c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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