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TMI Blog2014 (12) TMI 733X X X X Extracts X X X X X X X X Extracts X X X X ..... granting stay. However, if the stand of the revenue is that such extension was without recording reasons or without passing speaking order as required by the decision of this Court in case of Commissioner vs. Small Industries Development Bank of India (supra) it would be open for the Department to move a rectification application before the Tribunal. - Decided against Revenue. - TAX APPEAL NO. 871 of 2014 TO TAX APPEAL NO. 872 of 2014 - - - Dated:- 19-11-2014 - MR. AKIL KURESHI AND MR. VIPUL M. PANCHOLI, JJ. FOR THE APPELLANT : MR RJ OZA, ADVOCATE JUDGEMENT Per: Akil Kureshi: 1. Draft amendment is allowed. 2. Appeals raise following substantial question of law: Whether even if it is held that the learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Hon'ble Supreme Court in the case of Kumar Cotton Mills Pvt. Ltd (supra), it should not be construed that any latitude is given to the Appellate Tribunal to extend the period of stay except on good cause and if the Appellate Tribunal is satisfied that the matter could not be heard and disposed of by reason of the fault of the Appellate Tribunal for the reasons not attributable to the assessee. It also may not be construed that the Appellate Tribunal can extend stay indefinitely. On expiry of every 180 days the concerned assessee / appellant is required to submit an appropriate application before the learned Appellate Tribunal to extend the stay granted earlier and the Appellate Tribunal may extend the stay for a further period but no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wever, argue that the Tribunal has passed the said order mechanically without assigning any reasons. The Tribunal would extend the stay only for proper reasons to be recorded. In the present case, no such reasons have been recorded. In this context, the counsel relied on the following observations of this Court in case of Commissioner vs. Small Industries Development Bank of India (supra). 7. So far as the Question No.2 is concerned, i.e. Whether the learned Appellate Tribunal is required to pass a speaking order while extending stay or not, for the reasons stated above, the said question is answered in favour of the revenue - department and against the assessee. Consequently, all the matters are remanded to the learned Appel ..... X X X X Extracts X X X X X X X X Extracts X X X X
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