India - Income Tax Act 2010 - Saarc

S. 255 I.T. ACT, 1961 1.862Provided further that where such appeal is not so disposed of within the saidperiod of stay as specified in the order of stay, the Appellate Tribunal may, on anapplication made in this behalf by the assessee and on being satisfied that thedelay in disposing of the appeal is not attributable to the assessee, extend theperiod of stay, or pass an order of stay for a further period or periods as it thinksfit; so, however, that the aggregate of the period originally allowed and the periodor periods so extended or allowed shall not, in any case, exceed three hundredand sixty-five days and the Appellate Tribunal shall dispose of the appeal withinthe period or periods of stay so extended or allowed:46[Provided also that if such appeal is not so disposed of within the period allowedunder the first proviso or the period or periods extended or allowed under thesecond proviso, which shall not, in any case, exceed three hundred and sixty-fivedays, the order of stay shall stand vacated after the expiry of such period orperiods, even if the delay in disposing of the appeal is not attributable to theassessee.]](2B) The cost of any appeal to the Appellate Tribunal shall be at the discretion ofthat Tribunal.](3) The Appellate Tribunal shall send a copy of any orders passed under thissection to the assessee and to the 47 [ 48 [***] Commissioner].(4) 49 [Save as provided in section 256 49a [or section 260A]], orders passed by theAppellate Tribunal on appeal shall be final.Procedure of Appellate Tribunal.50255. (1) The powers and functions of the Appellate Tribunal may be exercisedand discharged by Benches constituted by the President of the AppellateTribunal from among the members thereof.(2) Subject to the provisions contained in sub-section (3), a Bench shall consist ofone judicial member and one accountant member.(3) The President or any other member of the Appellate Tribunal authorised inthis behalf by the Central Government may, sitting singly, dispose of any case(Contd. from p. 1.861)“Provided that where an order of stay is made in any proceedings relating to an appeal filedunder sub-section (1) of section 253, the Appellate Tribunal shall dispose of the appealwithin a period of one hundred and eighty days from the date of such order :Provided further that if such appeal is not so disposed of within the period specified in thefirst proviso, the stay order shall stand vacated after the expiry of the said period.”46. Substituted by the Finance Act, 2008, w.e.f. 1-10-2008. Prior to its substitution, provisoread as under :“Provided also that if such appeal is not so disposed of within the period allowed under thefirst proviso or the period or periods extended or allowed under the second proviso, theorder of stay shall stand vacated after the expiry of such period or periods.”47. Substituted for “Commissioner” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1988.48. Words “Chief Commissioner or” were omitted by the Finance (No. 2) Act, 1991, w.e.f.27-9-1991.49. Words “Save as provided in the National Tax Tribunal Act, 2005” shall be substituted forthe words “Save as provided in section 256 or section 260A” by the National Tax TribunalAct, 2005, with effect from a date yet to be notified.49a. Inserted by the Finance Act, 1999, w.e.f. 1-6-1999.50. For Instructions and Orders, see Taxmann’s Income-tax Rules and Master Guide toIncome-tax Act.