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The HC held that the impugned direction conditioning stay of the disputed tax demand on payment of 20% was unsustainable and granted an unconditional stay of the demand pending appellate proceedings. The court found that CIT(A) and ITAT had already held there was no chargeability to capital gains in respect of the converted godown, and those appellate orders - not being stayed - are binding on the Revenue. Applying principles of judicial discipline, the HC held the reopening lacked a sustainable basis in light of prior ITAT orders and affirmed that subordinate revenue authorities cannot ignore binding appellate decisions; accordingly the conditional payment requirement was set aside.
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