2018 (2) TMI 1860 - AT - Income Tax

Stay of demand - demand in question had arisen on account of transfer pricing adjustment u/s 92CA involving selection of comparables - HELD THAT - We heard rival submissions and perused the material on record. We are of the considered opinion that it is a fit case where status quo needs to be maintained in order to meet the ends of justice. The registry is direct to post the hearing of the appeal on 21/02/2018.

Summary

The Appellate Tribunal ITAT Bengaluru granted stay of demand of 2,88,55,560/- for the assessment year 2012-13 to the assessee-company due to transfer pricing adjustment. The Tribunal found a prima facie case before them and directed the appeal hearing to be scheduled for 21/02/2018. The order was pronounced on 05th February, 2018.