https://www.taxtmi.com/caselaws?id=60975 The Tribunal considered whether it could use its inherent powers to restrain the Income-tax Officer from acting on a section 263 direction to withdraw investment allowance and recompute income while the assessee's appeal remained pending. It noted that the Commissioner's direction left only consequential action in the assessment process, and that immediate implementation could prejudice the assessee. To avoid such prejudice, the Tribunal granted a limited stay of further proceedings for a fixed period, while requiring the assessee to furnish suitable security to protect any additional tax that might become payable if the withdrawal was ultimately upheld. en-us Mon, 30 Jun 1986 00:00:00 +0530 Mon, 10 Jan 2011 12:15:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60975 The Tribunal considered whether it could use its inherent powers to restrain the Income-tax Officer from acting on a section 263 direction to withdraw investment allowance and recompute income while the assessee's appeal remained pending. It noted that the Commissioner's direction left only consequential action in the assessment process, and that immediate implementation could prejudice the assessee. To avoid such prejudice, the Tribunal granted a limited stay of further proceedings for a fixed period, while requiring the assessee to furnish suitable security to protect any additional tax that might become payable if the withdrawal was ultimately upheld. Case-Laws Income Tax Mon, 30 Jun 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60975