34. Stay of disputed amount of tax.-

(1) Pending the final decision of an appeal filed under sub-section (1) of section 35 of the Act, on an application from the appellant, the recovery of any tax assessed or re-assessed or penalty imposed under the Act and not admitted by the appellant to be due from him, shall be stayed, if so directed by the Appellate Authority and not otherwise ,on such terms and conditions as may be specified in the direction.

(2) The Appellate Authority shall dispose of any stay application not later than ninety days from receipt of such application by giving the applicant an opportunity of being heard in the matter.

(3) The appeal may be summarily rejected if the appellant after being given an opportunity to comply with any of the requirements of rule 32 and 33 of these rules or being directed to furnish security, which may be decided by the Appellate Authority fails to comply with the requirements of the said rules or furnish security or for any other sufficient reasons;

Provided that when an application is summarily rejected on the ground other than non compliance of provisions of rules 32 and 33 or for non furnishing of security demanded, the reasons for such summary rejection should be stated in the order.