Assessee filed filed an application for stay of demand . The Tribunal directed the assessee to pay Rs 7 crores per month .\u00a0 The assessee filed the petition to modify the order of stay and\u00a0 early hearing of appeal .\u00a0 The Tribunal dismissed the petition on the ground that there was no error pointed out in the order of the Tribunal and the stay order is not being passed under S.254(1)\u00a0 of the Act , the petition for modification \/ rectification u\/s 254(2) would not lie.\u00a0 After referring the judgement in ITO v . M.K.Mohammed Kunhi ( 1969) 71 ITR 815 (SC)\u00a0\u00a0 the Court held that the Tribunal has the power to consider the relief sought\u00a0 by the assessee.\u00a0 However considering subsequent events\u00a0 in view of fact that demand of tax and interest was substantial and, assessee had complied with direction issued by Tribunal in respect of payment of tax, stay application could not be dismissed merely on ground that a part of interest amount still remained unpaid.\u00a0 (AY. 2008 -09 to 2014-15 )<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 254(2A): Appellate Tribunal \u2013Stay- Power- Tribunal has the power to modify the stay order – Dismissal of stay application is held to be not justified on the ground that the Tribunal has no power to modify the stay order as the order is not passed u\/s 254(1)- On facts only a part of interest amount is still remain unpaid rejection of application is held to be not justified . [ S.254(1), 254(2) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8310","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2a2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=8310"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8310\/revisions"}],"predecessor-version":[{"id":8311,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8310\/revisions\/8311"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}