https://www.taxtmi.com/caselaws?id=8076 The court found that the Income-tax Officer did not properly exercise discretion in granting and extending the stay of realisation for the petitioner-company. The court emphasized that discretion must be exercised judiciously, without arbitrariness. The failure to extend the stay and the initial grant until a specific date were deemed improper. The court maintained the stay until the appeal's disposal, with the petitioner's security intact. The judgment highlighted the importance of proper exercise of administrative discretion in tax matters, ensuring adherence to legal principles and fairness. en-us Wed, 16 Dec 1970 00:00:00 +0530 Sat, 28 Mar 2009 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8076 The court found that the Income-tax Officer did not properly exercise discretion in granting and extending the stay of realisation for the petitioner-company. The court emphasized that discretion must be exercised judiciously, without arbitrariness. The failure to extend the stay and the initial grant until a specific date were deemed improper. The court maintained the stay until the appeal's disposal, with the petitioner's security intact. The judgment highlighted the importance of proper exercise of administrative discretion in tax matters, ensuring adherence to legal principles and fairness. Case-Laws Income Tax Wed, 16 Dec 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8076