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2014 (3) TMI 1021 - AT - Income TaxTransfer pricing adjustment - Held that:- The demand is mainly due to the Transfer Pricing Adjustment made by the AO. We further find that most of the issues agitated before the Tribunal have been decided in favour of the assessee,that adjustment of ₹ 7.5 Crores has to be carried out by the AO.Considering the facts and circumstances of the case, we are of the opinion that it is a fit case for staying the demand.Accordingly,demand is stayed till the disposal of appeal by the Tribunal or for a period of six months whichever is earlier. AO is directed not to make any adjustment except for the amount of ₹ 7.5 Crores for which proceedings are pending before him till today. Registry is directed to fix the hearing of the case on 16.06.2014, as early hearing matter.As both the parties have been informed about next date of hearing in the court room, no separate notice of hearing will be issued.
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