9911796707
TMI Blog1994 (7) TMI 79X X X X Extracts X X X X X X X X Extracts X X X X ..... 1961. The petitioner-firm is engaged in the manufacture and export of cashew kernels. For the assessment year 1986-87, the first respondent has passed exhibit P-1 assessment order. As against exhibit P-1, the petitioner-firm filed exhibit P-3 appeal before the second respondent. The petitioner has also filed an application for stay of collection of tax pending the appeal. Exhibit P-6 is the copy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re is no dispute. Even in a case where the assessee has not filed an application under section 220(6), he can very well approach the appellate authority invoking the inherent jurisdiction for staying collection of tax pending the appeal. It is said that no order has been passed on exhibit P-6 application for stay. In view of the fact that exhibit P-5 notice has been issued to recover the tax, I fe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he exemption in respect of the entire income. It is also brought to my notice, exhibit P-4, circular issued by the Central Board of Direct Taxes which indicates certain guidelines as to how the stay of collection of tax pending the appeal is to be dealt with. Considering all the aspects of the case, I direct respondents Nos. 1 and 3 not to take further proceedings pursuant to exhibit P-5 till the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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