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2016 (5) TMI 97 - AT - Income TaxStay of demand seeked - Transfer pricing adjustment - Held that:- The ratio of the amount paid (to the total outstanding demand) ought to be justifiably computed by excluding the tax relatable thereto (i.e., issue (b)), which would reduce the overall percentage (47%) for the current year to a lower ratio. Again, the transfer pricing issue considered by the tribunal for the preceding year covers an income of ₹ 405.03 crores, as against the total disputed addition qua TP adjustments at ₹ 508.48 crores, so that no case on merits stands made before us by the assessee for the balance disputed sum of ₹ 103.45 cr. In our view, however, directing for payment may not be justified considering the favorable development (from the assessee’s stand-point) of the decision in Tata Consultancy Services Limited (2015 (11) TMI 862 - ITAT MUMBAI), which would cover the transfer pricing adjustment in its entirety, besides the several decisions by the tribunal noted in the stay application toward the other (five) transfer pricing adjustments (for ₹ 103.45 cr.) made in assessment. We are also painfully conscious that huge sums (of the assessee) stand locked up in disputed payments, for which it is not responsible in any manner. In view of the above, in our considered view, the assessee deserves a stay without any further payment. The assessee shall not seek adjournment without justifiable cause. We decide accordingly.
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