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2015 (1) TMI 150 - ITAT MUMBAIStay of demand - Transfer pricing adjustment - Disallowance of deduction u/s 80IB and 80IC - Held that:- Admittedly, out of the total demand of ₹ 45 crores raised in the assessment year, the AO has already adjusted the refund due to the assessee for A.Y. 2004-05 amounting to ₹ 13.26 crores, which is equivalent to 30% of the total demand raised for the assessment year. The case of the AR is that the various additions made by the AO/TPO are against the principles laid down by the Tribunal in other cases. Under these circumstances, we are of the view that the balance of convenience is in favour of granting partial stay to the assessee. Accordingly, we direct the assessee to pay a sum of ₹ 10 crores in two equal installments. The first instalment shall be paid on or before 31.10.2014 and the second installment shall be paid on or before 30.11.2014. Subject to the payment of the aforesaid amounts, the balance amount of outstanding demand is stayed for a period of six months or till the disposal of the appeal, whichever period expires earlier. - Decided partly in favour of assesse.
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