Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (7) TMI 1070 - AT - Income TaxStay of demand - selection of the tested party for determination of ALP of the international transaction with AE - Held that:- Assessee has prima facie good case on merit. The colour of dispute would change, if the selection of the tested party for determination of ALP of the international transaction with AE is changed. No doubt in the order dated 25.3.2014, the learned AO while rejecting the application for stay of demand, moved under section 220 of the Income Tax Act has observed, as to why, the GMDAT cannot be taken as tested party, but, it is a debatable issue at this stage. The order of the Tribunal in the Asstt.Year 2006-07 and 2007-08 is in favour of the assessee on this issue. Therefore, taking into consideration, the facts and circumstances, we deem it appropriate to stay the outstanding demand subject to the following conditions: (a) The outstanding demand shall remain stayed for a period of 180 days or till the disposal of the appeal, whichever event occurs first; (b) The assessee shall pay sum of ₹ 1,00,00,000/- (Rupees One Crore) on or before 30th August, 2015. (c) The assessee shall submit all necessary paper books before the date of hearing in the appeal. (d) The assessee shall not seek adjournment unless unavoidable circumstance warrants so.
|