2024 (6) TMI 1029

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....ondent : Mr. Harsh Shah with Mr. Pratik Poddar,. P.C. 1. This appeal of the revenue assails an order dated 3 March 2017 passed by the Income Tax Appellate Tribunal whereby the respondent - assessee's application seeking extension of the stay, stood allowed. The assessee had contended that during two years prior to the application being taken up for hearing, the revenue had sought an adjournm....

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....Court raising the following substantial issue of law: a) Whether, on the facts and in the circumstances of the case, the Tribunal, was correct in law, in extending the stay of demand beyond 365 days ?" 2. Mr. Suresh Kumar, learned Counsel for the appellant - revenue has fairly stated that the question of law as raised, is no more res integra in view of the decision of the Supreme Court....

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....uch amendment was challenged by Pepsi Foods (P) Ltd. The Delhi High Court considering the rival contentions, had struck down the impugned part of the third proviso to Section 254 (2A), which did not permit extension of stay of the said order beyond 365 days, even if the assessee was not responsible for delay in appeal. Such decision of the Delhi High Court was assailed by the revenue before the Su....

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....ction only if the delay in disposing of the appeal is attributable to the assessee. The appeals of the revenue are, therefore, dismissed. (emphasis supplied) 4. In view of the authoritative pronouncement of Supreme Court interpreting the third proviso to Section 254 (2A) inserted by the Finance Act, 2008, we find that the question of law as urged for consideration, stands squarely answ....