TMI Blog2016 (3) TMI 861X X X X Extracts X X X X X X X X Extracts X X X X ..... ot seek adjournment unless unavoidable circumstance warrants so. In the result, Stay Application filed by the assessee is allowed. - S.A. No.10/Ahd/2016, In ITA No.793/Ahd/2014 - - - Dated:- 10-2-2016 - SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER AND SHRI RAJPAL YADAV, JUDICIAL MEMBER For The Appellant : Shri Vishal Kalra For The Respondent : Ms. Sonia Kumar ORDER PER RAJPAL YADAV, J.M.: 1. The present Stay Application is directed at the instance of the assessee for grant of stay of recovery of the outstanding demand amounting to ₹ 52,95,70,660/-. 2. The assessee has pleaded that it had moved a Stay Application bearing No.76/Ahd/2015. This Stay Application was allowed by the Tribunal vide order dated 20.07.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 67,42,33,199 2. Disallowance u/s.40(a)(ia) (as per para-4) ₹ 78,81,661/- Rs.468,21,14,860/- Total Income Rs.105,23,58,654/- TOTAL INOCME (rounded off) Rs.105,23,58,650/- Assessed u/s.143(3) r.w.s. 144C r.w.s. 92CA(3)of the Income Tax Act. Calculate Tax charge interest u/s.234A, 234B, 234C and 234D as applicable. Give credit of pre-paid taxes after due verification. Issue demand notice challan accordingly. Issue notice u/s.274 r.w.s. 271(1)(c) of the Act. Sd/- Y.P.Verma) Jt. Commissioner of Income T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .Years 2006-07 and 2007-08 reads as under: 11.6.5 Taking all the above facts and circumstances of the issue as discussed in the foregoing paragraphs, in consonance with the case laws quoted (supra) and also the United Nation s Practical Manual on transfer pricing, we direct the AO to adopt GMDAT as the tested party for analyzing the inter-company transactions of the assessee for both the AYs under consideration. To facilitate the TPO to analyze the intercompany transactions in the case of the assessee for selecting GMDAT as tested party as directed above, this issue is restored o the files of the TPO. It is ordered accordingly. 5. The learned counsel for the assessee further contended that the assessee has huge brought forwa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... conditions: (a) The outstanding demand shall remain stayed for a period of 180 days or till the disposal of the appeal, whichever event occurs first; (b) The assessee shall pay sum of ₹ 1,00,00,000/- (Rupees One Crore) on or before 30th August, 2015. (c) The assessee shall submit all necessary paper books before the date of hearing in the appeal. (d) The assessee shall not seek adjournment unless unavoidable circumstance warrants so. 8. The registry is directed to list this appeal out of turn hearing on 12th August, 2015 along with other appeals of the assessee, where, identical issue is being involved, as stated by the assessee. 9. In the result, the Stay Petition of the assessee is allowed in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contentions of the learned Counsel for the assessee. 6. On due consideration of the facts and circumstances, we are of the view that the assessee was always willing and ready to get its appeal disposed off on an early date. The issues involved in the appeal are dependent and interlinked with A.Ys. 2006-07, 2007-08 2008-09. Hearings in those assessment years have already been completed. The order is awaited. Considering these facts, we allow the application of the assessee and stay the recovery of outstanding demand for a period of 180 days from today or till the disposal of the appeal, whichever event occurs first. The assessee shall not seek adjournment unless unavoidable circumstance warrants so. 7. In the result, Stay Applicatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
