Initiation of Recovery Proceeding without before disposing stay application is invalid

IN THE ITAT HYDERABAD BENCH ‘A’ Capital IQ Information Systems India (P.) Ltd. versus Assistant Commissioner of Income-tax, Cir. 1(2), Hyderabad IT APPEAL NO. 1961 (HYD.) OF 2011 STAY APPLICATION NO. 96 (HYD.) OF 2012 [ASSESSMENT YEAR 2007-08] JUNE 15, 2012 ORDER D. Karunakara Rao, Accountant Member By this application, assessee seeks stay of recovery of outstanding demand pending hearing and disposal of its appeal ITA No. 1961/Hyd/2011 for assessment year 2007-08 by this Tribunal. 2. Briefly stated, facts leading to the filing of the present application are that t...