HC raps ITAT for extending stay on tax demand beyond period of 365 days; orders for expedite disposa

IT : In view of third proviso to section 254(2A) substituted by Finance Act, 2008, with effect from 1-10-2008, Tribunal cannot extend stay beyond period of 365 days from date of first order of stay, but assessee can file a writ petition in High Court asking for stay and section 254(2A) does not prohibit/bar High Court from granting stay of recovery