REBELLO F.I., J.: - Rule. Considering the importance of the question heard forthwith. The question: "Does the third proviso to section 254(2-A) of Income Tax Act, have the effect of denuding the Tribunal of its incidental power to grant interim reliefs?

2. Finance Act, 2007 substituted subsection (2-A) to section 254 of the Income Tax Act, 1961 with effect from 1st June, 2007. The said sub-section as amended reads as under:-

"(2A) In every appeal, the Appellate Tribunal, where it is possible, may hear and decide such appeal within a period of four years from the end of the financial year in which such appeal is filed under sub-section (1) or subsection (2) of section 253:

Provided that the appellate Tribunal may, after considering the merits of the application made by the assessee, pass an order of stay in any proceedings relating to an appeal filed under sub-section (1) of section 253, for a period not exceeding one hundred and eighty days from the date of such order and the appellate Tribunal shall dispose of the appeal within the said period of stay specified in that order.

Provided further that where such appeal is not so disposed of within the said period of stay as specif