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High Court has power to grant stay of demand in s. 260A appeal
Where the question arose whether in respect of an appeal admitted u/s 260A, the High Court has power to grant stay of recovery of outstanding demand, HELD:
(i) S. 260A provides that the provisions of the Code of Civil Procedure relating to appeals to the High Court shall apply;
(ii) Rules 5 (1) and 5 (3) of Order 41 of the Code of Civil Procedure authorize the Court to grant stay provided it is satisfied:
(a) that substantial loss may result to the party applying for stay of execution unless the order is made;
(b) that the application has been made without unreasonable delay; and
(c) that security has been given by the applicant for the due performance of such decree or order as may ultimately be binding upon him.
(iii) On facts, as these conditions were satisfied, the assessee was entitled to stay subject to conditions.
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