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2016 (3) TMI 861 - ITAT AHMEDABAD

2016 (3) TMI 861 - ITAT AHMEDABAD - TMI - Stay petion - Delay in disposal of the appeal - Held that:- 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 app .....

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i 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 20.07.2015. The Tribunal has stayed the recovery of outstanding for a period of 180 days. The .....

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ns entered into by the assessee with its associated enterprise ( AE for short) were referred to the Transfer Pricing Officer under section 92CA(3) of the Income Tax Act for computation of Arm s Length Price ( ALP for short). 3. The ld. TPO had passed an order under section 92CA(3) of the Act on 29.1.2013. A draft assessment order was served upon the assessee. The assessee had filed objection before the ld.DRP, and ultimately, the AO has passed assessment order under section 143(3) r.w.s. 144C r. .....

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) 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 Tax |Panchamahal Range, Godhra. 4. The ld. Counsel for the assessee submitted that the AO has raised demand of ₹ 56,45,70,660/- which includes interest of ₹ 32,85,159/- .....

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le service needs of its customers. The assessee also imports spare parts and accessories from its AE, in addition to local procurement, for their resale in India. The assessee has selected, GMDAT (General Motors Daewoo & Auto Technology Ltd.) as a tested party, but this stand of the assessee was rejected by the AO. According to the learned counsel or the assessee, if the GMDAT is selected as a tested party, then the major demand would be extinguished. He submitted that an identical issue had .....

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ed (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 con .....

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zed that the assessee failed to place on record the complete financial data of GMDAT. He further contended that in case the stay is granted, then the assessee should be directed to pay at least 50% of the outstanding demand. 7. On due consideration of the facts and circumstances of the case, we are of the view that the assessee has prima facie good case on merit. The colour of dispute would change, if the selection of the tested party for determination of ALP of the international transaction wit .....

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ng demand subject to the following 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 di .....

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e applicant states that after the grant of stay by the Hon ble Tribunal, the subject appeal was fixed for hearing on August 12, 2015 along with appeals for A.Y. 2006-07, 2007-08, 2008-09 and 2010-11 as the issues involved were identical. On the said date the Hon ble D Bench adjourned the matter due to paucity of time and the same was next fixed for hearing on September 16, 2015. The matter again could not be taken up for hearing due to paucity of time and the same was adjourned to November 2, 20 .....

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