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2020 (5) TMI 678 - AT - Income TaxStay petition - application was moved seeking extension of stay granted to the applicant - HELD THAT:- The last stay order which was granted to 09.03.2020 under which no conditions were imposed. The stay was extended to 60 days i.e. ending on 08.05.2020. The issue involved in the present appeal is against the transfer pricing adjustments made and the case of the applicant before us is limited to selection and application Of margins of comparables.The applicant has a prima facie case in its favour as far as granting extension of stay against the recovery of balance outstanding demand is concerned. The stay of demand can be granted to the applicant for a period exceeding 365 days as held by the Hon'ble Delhi High Court in the Case of Maruti Suzuki India Ltd. [2014 (2) TMI 1037 - DELHI HIGH COURT] and in the case of Pepsi Foods (P.) Ltd. [2015 (5) TMI 655 - DELHI HIGH COURT] Coming to the next stand of the Ld.DR for the Revenue as to application of amended provisions Of section 254(2A) Of the Act. The said provisions have been inserted by the Finance Act, 2020 w.e.f. 01.04.2020. The present case is of extension of stay and we are Of the view that the said provisions cannot be invoked in the present stay petition of extension of stay. Accordingly, we stay the recovery of outstanding demand for a period of 180 days or till the disposal of appeal, whichever is earlier. The appeal is fixed for healing on out of turn basis 22.06.2020. Both parties are informed through this order and no separate notice of hearing shall be issued. Both the parties are directed not to take frivolous adjournment. Hence, the stay application filed by the applicant stand allowed.
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