https://www.taxtmi.com/article/detailed?id=1533 A stay application by an assessee who has appealed can suspend recovery and prevent treatment as assessee in default until the stay is decided; the Assessing Officer's discretion to grant stay must be exercised judicially and by means of a speaking order, and penalty cannot be imposed while the stay petition remains pending. Departmental guidance recommends withholding collection in cases of harsh assessments, conflicting legal interpretations, or where appeals show prima facie merit; mere financial capacity of the assessee is not by itself a reason to refuse stay. en-us Fri, 09 Dec 2011 21:03:00 +0530 Fri, 09 Dec 2011 21:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1533 A stay application by an assessee who has appealed can suspend recovery and prevent treatment as assessee in default until the stay is decided; the Assessing Officer's discretion to grant stay must be exercised judicially and by means of a speaking order, and penalty cannot be imposed while the stay petition remains pending. Departmental guidance recommends withholding collection in cases of harsh assessments, conflicting legal interpretations, or where appeals show prima facie merit; mere financial capacity of the assessee is not by itself a reason to refuse stay. Articles Income Tax Fri, 09 Dec 2011 21:03:00 +0530 https://www.taxtmi.com/article/detailed?id=1533