S. 220 : Collection and recovery-Assessee deemed in default–Stay –Penalty–Pendency of review petition-Discretion must be exercised judiciously–Rejection of application for stay of recovery of penalty is held to be without application of mind–No waiting for three days in terms of order passed-Held to be not valid. [S. 220(6), 245, 271(1)(c), Art. 226]