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2015 (11) TMI 928 - MADRAS HIGH COURT

2015 (11) TMI 928 - MADRAS HIGH COURT - TMI - Grant an order of stay refused - Held that:- This court directs that the stay petition pending before the Commissioner of Income Tax (Appeals), the 3rd respondent herein, be taken and disposed of on merits and in accordance with law within a period of two weeks from the date of receipt of a copy of this order and until then there shall not be any recovery proceedings. - W. P. No. 31030 of 2015, M. P. No. 1 of 2015 - Dated:- 6-10-2015 - R. Mahadevan, .....

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etitioner has been filing its returns of income regularly in accordance with the provisions of the Income Tax Act. 3. According to the petitioner company, as a part of its business transaction, it had entered an agreement with various entities for provision of infrastructure for manufacture of liquor for rendition of bottling and labelling services and as per the agreement, the role of the petitioner company was limited to provision of infrastructure and space. As usual, the petitioner filed ret .....

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table to each company after deducting a flat contracted rate towards its charges in connection with bottling. According to the petitioner, the assessing authority did not initially raise any query relating to labelling and provision of infrastructure. While so, to the shock of the petitioner, the assessing authority raised a query relating to sale consideration passed on to the companies and reflected as payment to 'brand owners' in its financial. It was explained that the payment repres .....

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