Consider a stored procedure that updates some rows about in 60 seconds without using a transaction. We set ADO.NET\'s SqlCommand.Timeout to 30 seconds.
SqlComma
The answer is no, your attempted action on the server will fail after 30s, your SqlCommand object will throw an exception in your code (below) and the implicit stored procedure transaction will rollback.
Timeout expired. The timeout period elapsed prior to completion of the operation or the server is not responding.
...at least this is the behavior that I can verify using SQL Server...