243. Stay petition presentation and disposal thereof.

(1) If an appellant intends to pray for stay of recovery of the disputed amount of tax, penalty or interest arising out of an order appealed against, he shall make a stay petition containing, inter alia, substance of facts leading to an exact amount of tax, penalty or interest sought to be stayed and the exact amount of tax, penalty or interest disputed, payment of tax, penalty or interest before and after the said order the reasons in brief for seeking stay, and stay petition shall presented along with the memorandum of appeal under rule 240:

Provided that where a memorandum of appeal has been presented after coming into force of clause (12) of section 9 of the West Bengal Taxation Laws (Amendment) Act, 2004 (West Ben. Act VI of 2004) and before the 1st day of September, 2004, and no stay petition has been presented along with such appeal, a stay petition may be presented before the 1st day of November, 2004.

(2) Where a stay petition has been presented by an appellant under sub-rule (1) before the appellate authority and the appeal has been entertained, he shall, after giving such appellant a reasonable apportunity of being heard, dispose of such stay petition within one month from the date of presentation of such petition.

(3) The appellate authority may, in his discretion by an order in writing, stay realisation of the amount of tax, penalty or interest in part or whole, as the case may be, in dispute on such terms and conditions as he may deem fit and proper in the facts and circumstances of the case.

(4) If the realisation of the amount of tax, penalty or interest is stayed by the appelliate authority subject to payment of such amount of tax, penalty or interest, or furnishing security for securing the payment of the amount of tax, penalty or interest in dispute, as the case may be, specified in the order referred to in sub-rule (3), the appellant shall pay such amount of tax, penalty or interest or furnish such security, by the date specified in such order.

(5) Where an appellant fails to pay any amount of tax, penalty or interest in dispute which he is required to pay according to the order referred to in sub-rule (3) by the date specified therein or such other date as may be allowed by the appellate authority, such order staying realisation of the amount of tax, penalty or interest, as the case may be, shall stand automatically vacated after the expiry of the date specified in the order or such other date as may be allowed by the appellate authority.";