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2016 (3) TMI 1412 - ITAT MUMBAIStay of the recovery of the impugned balance/tax amount and interest - As stated that the impugned demand has been made by the AO taking into consideration the expected profits from his business of distributorship of Sony Channels estimated for seven years whereas the assessee has actually acquired the ownership rights of the channels after 4 years - as stated that if the demand raised by the AO on estimation basis for 7 years is considered for 4 years as the assessee has obtained the ownership rights of the channels after 4 years, in that event, the resultant figure will result into refund due to the assessee - HELD THAT:- We find that there is a prima-facie case in favour of the assessee. We therefore stay the recovery of the balance taxes including interest etc. relevant to the assessment year under consideration for a period of six months or till the disposal of the appeal of the assessee on merits, whichever is earlier. The appeal is fixed for an early hearing on 14.06.16 - assessee will not contribute in delaying the hearing of the appeal and will not take any unnecessary adjournments in default, the stay will be deemed to be vacated. Our above observations will not have any bearing on merits of the case at the time of its final disposal.
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