ITAT can grant stay only if assessee pays or furnishes security of 20 % of tax in dispute

Hindustan Lever Limited Vs DCIT (ITAT Mumbai) section 254(1) of the Act provides that “(t)he Appellate Tribunal may, after giving both the parties to the appeal an opportunity of being heard, pass such orders thereon as it thinks fit”. While explaining the scope of the powers of the Tribunal under section 254(1), Hon‟ble Supreme Court has indeed held, as rightly pointed out by the learned counsel, that “In our opinion, the Appellate Tribunal must be held to have the power to grant stay as incidental or ancillary to its appellate jurisdiction. This is particularly so when section 22...