TMI Blog2016 (5) TMI 96X X X X Extracts X X X X X X X X Extracts X X X X ..... aking note of the fact that the assessee has already paid 40% of the demand as directed by the jurisdictional High Court. We find that these stay petitions are against the collection of the demand of penalty under section 271C of the I.T. Act which are consequent to the orders under section 201(1) and 201(1A) of the I.T. Act. As the assessee has already paid 20% of the demand of penalty under section 271C of the I.T. Act, we are satisfied that balance of convenience is in favour of the assessee. Therefore, we deem it fit and proper to stay the balance of the demand for a period of 180 days from today or till the disposal of the appeals whichever is earlier. The Registry is directed to post the appeals for hearing on 8th June, 2016. Since th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... right to pre-paid services to the distributors for a consideration and the distributors in turn, transfer the same to the retailers who would thereafter transfer the same to the ultimate consumer and at each level of the distribution, party distributing the right to pre-paid services retains margin for its efforts and the risks assumed. It is submitted that transfer of the right to pre-paid services by the assessee to distributors is at a discount, part of it in turn, is passed-on by the distributors to retailers/subscriber and that since the assessee is not required to make any payment to its distributors towards the discount extended to them, but in fact, receives payment from them for transfer of the right to pre-paid services, it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of the jurisdictional High Court is against the assessee, the decision of the Hon ble High Court of Karnataka is in favour of the assessee and the issue is now before the Hon ble Supreme Court of India and matter is listed for final hearing in the month of April, 2016. He submitted, that taking the above into consideration, Hon ble High Court of A.P. Telangana in W.P.No.2456, 2460, 2464 of 2015 vide orders dated 25.08.2015 has granted stay of demand raised under section 201(1) and 201(1A) of the I.T. Act. subject to the assessee paying a sum of 40% of the demanded amount. He submitted that this Tribunal, in the assessee s appeals against the orders under section 201 and 201(1A) has granted stay of the outstanding demand after taking no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ready granted stay of collection of the outstanding tax demand under section 201(1) and the interest thereon under section 201(1A) of the I.T. Act after also taking note of the fact that the assessee has already paid 40% of the demand as directed by the jurisdictional High Court. We find that these stay petitions are against the collection of the demand of penalty under section 271C of the I.T. Act which are consequent to the orders under section 201(1) and 201(1A) of the I.T. Act. As the assessee has already paid 20% of the demand of penalty under section 271C of the I.T. Act, we are satisfied that balance of convenience is in favour of the assessee. Therefore, we deem it fit and proper to stay the balance of the demand for a period of 180 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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