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TMI Blog2015 (1) TMI 150X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessee has filed the stay application seeking the stay of collection of outstanding demand of Rs. 31.75 crore relating to A.Y. 2009-10. 2. The learned counsel for the assessee submitted that the assessee filed its return of income for the year under consideration declaring a total income of Rs. 64.90 crores. However, the AO completed the assessment by making additions to the tune of Rs. 8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TPO is against the principles laid down by the Special Bench in the case of LG Electronics India Private Limited 22 ITR(T) 1 (Delhi). The learned counsel further submitted that disallowances made u/s 80IC is also not in accordance with the decision rendered by various Benches of the Tribunal and also by the Hon'ble Jurisdictional High Court. Accordingly, the learned AR submitted that there is a p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0% of the total demand raised for the assessment year. The case of the AR is that the various additions made by the AO/TPO are against the principles laid down by the Tribunal in other cases. Under these circumstances, we are of the view that the balance of convenience is in favour of granting partial stay to the assessee. Accordingly, we direct the assessee to pay a sum of Rs. 10 crores in two eq ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he date of hearing is announced in the open court in the presence of both the parties, they may note that the Registry shall not send any notice of hearing to them i.e., the present order shall also be considered as notice of hearing.
6. In the result, the stay application filed by the assessee is partly allowed.
(Order pronounced in the open court on this 10.10.2014.) X X X X Extracts X X X X X X X X Extracts X X X X
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