Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (2) TMI 992 - AT - Income TaxStay of recovery of demand - comprising of tax and interest - Held that:- As perused the orders of lower authorities and the stay petitions filed by the assessee. Contention of the assessee is that if downward adjustment was done on the international transactions alone considered, the effect thereof would be ₹ 15,61,77,887/- only against the sum of ₹ 25,42,23,046/- considered by the AO. Though assessee may have a prima facie case, it has not been able to demonstrate any grave financial difficulties except for pleading that it is running in a loss. Considering the facts and circumstances of the case, we are of the opinion that if the assessee effects a payment of ₹ 90,00,000/- on or before first March, 2019, balance of the demand can be kept in abeyance for a period of six months from the date of this order or date of pronouncement of the order in the appeal whichever falls earlier.- Stay petition filed by the assessee is partly allowed.
|