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TMI Blog2010 (11) TMI 974X X X X Extracts X X X X X X X X Extracts X X X X ..... standing demand and has directly approached the Tribunal for stay of realization of the demand. From the various decisions filed, it is found that different views are available regarding the approach before the Tribunal directly for stay of realization of demand. In view of the decision of the Allahabad Bench of the Tribunal in the case of BROSWEL PHARMACEUTICAL INC. VERSUS INCOME TAX OFFICER. [ 2004 (1) TMI 295 - ITAT ALLAHABAD] it is not mandatory on the part of the assessee to move application before the Revenue Authorities for granting of stay of outstanding demand. There are no merit in the arguments advanced by the ld DR that the stay application should be rejected outright since the assessee has not moved any petition before the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t AG (DPAG). DPAG is one of the leading global logistics providers. The Express segment of DPAG is engaged in the business of operating an international air express network that provides courier services for the door-to-door delivery of documents and light parcels around the world. The assessee carries on business in India as an international air express network service provider. 2.1 The assessee filed return of income declaring the income of Rs. 24,43,17,168/-. The Assessing Officer made reference u/s 92CA(1) of the I T Act to the TPO pursuant to which, the TPO initiated TP assessment proceedings. On the basis of the report of the TPO, the Assessing Officer completed the assessment on a total income of Rs. 39,25,07,460/-. Referring to a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cation before the Tribunal for stay of realization of the demand. He accordingly submitted that full stay of realization of the demand should be granted. He also requested for out of turn hearing of the matter. 2.3 The ld DR, on the other hand, while opposing the stay application submitted that the assessee has not moved application before the lower authorities for stay of realization of the demand. Referring to the decision of the coordinate Bench of the Tribunal in the case of RPG Enterprises Ltd. he submitted that although the Tribunal has unfettered power to grant stay of recovery without the Commissioner having been approached or having passed an order in this regard, yet practice of the Tribunal to insist that assessee should appro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd. We, therefore, do not find any merit in the arguments advanced by the ld DR that the stay application should be rejected outright since the assessee has not moved any petition before the Revenue Authorities seeking stay of the demand. In our opinion, seeking stay before the lower authorities is directory and not mandatory. After hearing the rival submissions, we are satisfied that the assessee has a prima facie case. However, the assessee, in the instant case could not satisfactorily explain its financial hardship and the balance of convenience. We, therefore, direct the assessee to deposit an amount of ₹ 1.50 crores before 31.12.2010 and the balance demand is stayed till the disposal of the appeal or for a period of six months fr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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