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2018 (3) TMI 156 - HC - Income TaxRejection of stay application - demand on account of the adjustment of Royalty payment on the basis of Arm’s Length Price (ALP) - Held that:- It appears to this Court that since the difference between the cut off date for payment of ₹ 50 lakhs on 30.11.2017 and the date of hearing on 14.12.2017 of the appeal itself is bare minimum of 15 days, an indulgence can be granted to the petitioner though not as a matter of right. The observation of the Tribunal that the other incidental grounds may result in substantial reduction in demand raised, though indicates that a prima-facie case of the assessee exists but the extent of that could not naturally have been deferred and computed precisely by the learned Tribunal. The adjudication and determination of such incidental grounds would also depend upon the final decision of the learned Tribunal itself after hearing both the sides. Since the gap of time period between the two dates as aforesaid is only about 15 days, this Court is inclined to grant indulgence to the petitioner-assessee, as this Court feels that the interest of revenue will not be seriously prejudiced, if the payment of balance amount may await the final decision of the Tribunal for a period of 15 days more. This petition is disposed of with a slight modification in the impugned interlocutory order passed by the learned Tribunal by substituting the amount of ₹ 30 lakhs in place of ₹ 50 lakhs in the order dated 06.11.2017 passed by the learned Tribunal. No further modification is required or made in the said order.
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