Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (6) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (6) TMI 50 - HC - Income TaxStay petition - Transfer pricing and attribution issues as well as confirmation of royalty - HELD THAT:- The issue contested before the Tribunal by the revenue in the present proceedings (stay application) was only relating to the royalty issue and the same is further substantiated in the pleadings of the revenue before this Court This Court is astound by the stand of the revenue insisting for consideration of the entire demand including the transfer pricing and attribution, the same relating to the other assessment years being set aside by the Tribunal. On the remand order challenged before this Court, this Court has directed that no final order shall be passed by the TPO without obtaining special leave of the Court during the pendency of the appeals. The arguments of the revenue requires to be negated insofar as the entire demand to be considered for deciding the stay application. It is clear that the demand relating to the royalty issue alone requires to be considered while adjudicating upon the stay application and the same cannot be enlarged at this stage to include the demand raised on transfer pricing and attribution. This Court is of the considered opinion that no arbitrariness or perversity is found in the interim order of the Tribunal as regards the quantifying the sum of ₹ 475 crores to be paid by the assessee as a condition for grant of stay. However, the split-up of payment directed by the Tribunal warrants interference to balance the equities on both the sides. Considering the totality of circumstances of the case, this Court deems it appropriate to direct the assessee to pay a sum of ₹ 400 Crores on or before 31.03.2019. The balance amount of ₹ 75 Crores shall be paid in two installments
|