https://www.taxtmi.com/caselaws?id=11068 The Court directed the Revenue to release Reserve Bank of India Bonds valued at Rs. 7.2 crores withheld pending appeal before the Tribunal. The Court emphasized that the mere filing of an appeal does not automatically stay the order appealed against and that the Revenue should have obtained a stay order from the Tribunal to lawfully withhold the securities. Due to the Revenue's lack of promptitude in pursuing the appeal, the Court found no valid reason for withholding the securities and ordered their release within eight weeks, subject to any Tribunal orders during that period. en-us Mon, 05 Apr 2004 00:00:00 +0530 Thu, 30 Jul 2009 16:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11068 The Court directed the Revenue to release Reserve Bank of India Bonds valued at Rs. 7.2 crores withheld pending appeal before the Tribunal. The Court emphasized that the mere filing of an appeal does not automatically stay the order appealed against and that the Revenue should have obtained a stay order from the Tribunal to lawfully withhold the securities. Due to the Revenue's lack of promptitude in pursuing the appeal, the Court found no valid reason for withholding the securities and ordered their release within eight weeks, subject to any Tribunal orders during that period. Case-Laws Income Tax Mon, 05 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11068