2015 (1) TMI 92

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ation the assessee seeks stay of collection of outstanding demand of Rs. 43,24,08,871/-. 2. The AO made a reference to Transfer Pricing adjustments under section 92C of the Act for determining the arm's length price of the international transactions. Thereafter an order was passed by the AO determining the income of the assessee at Rs. 353.30 crores and raised additional demand of Rs. 116.27 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... pecific direction by the Bench the AO decided to adopt an innovative method of collecting the revenue by utter disregard of the Tribunal order and obtained a consent letter from the assessee and collected a sum of Rs. 16.64 crores during the subsistence of the said order. Thus, the amount outstanding has been further reduced to Rs. 43,24,08,871/-. Though the case was posted from time to time, the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... er the assessee nor the Revenue has the right to flout the decision of the Tribunal and being an officer functioning under the Government of India it is his obligation to follow the directions of the superior authority and even if there is consent he should not have collected the amount. We have recently come across in few other cases where similar consent letters were obtained or the Department h .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X