9911796707
TMI Blog2018 (9) TMI 1460X X X X Extracts X X X X X X X X Extracts X X X X ..... e interest element and after reducing the amount already paid by the assessee. If ₹ 21 crores is paid the total tax demand remaining unpaid would come to around ₹ 42 crores. - Amount allowed to be deposited in installments. If the assessee pays the above said amount of ₹ 21 crores within the time frame stated herein above then the balance Tax amount shall not be enforced by the Revenue by taking any steps whatsoever. This stay shall be in operation for a period of 180 days or till the disposal of the appeal whichever is earlier. - Stay Petition Nos.215 & 216/Bang/2018 And (In I.T(TP).A No.502/Bang/2017 & 2837/Bang/2017) - - - Dated:- 11-9-2018 - SHRI. JASON P. BOAZ, ACCOUNTANT MEMBER AND SHRI. LALIET KUMAR, JUDICIAL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... usch and Lomb Eyecare (India) v ACIT [2016] 381 ITR 227 (Delhi) 6. Sony Ericson Mobile Communication India (P.) Ltd. [2015] 374 ITR 118 (Del) 7. Honda Siel Power Products Limited v DCIT (ITA No.346/Del/2015) It was submitted that there was no international transaction as the expenditure incurred by the assessee was for the purposes of promoting its own brand as well as end product user. It was further submitted that the assessee was having economic ownership of the tangibles created by spending the amount on AMP. With respect to the second component of the addition made by the TPO on 40(a)(ia), it was submitted that though there is a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are factual in nature , on these facts it cannot be submitted that the assessee had made out a prima facie case, these facts are required to be heard in detail and thereafter it is to be decided whether the assessee is entitled to relief or not. 04. At this point of argument the bench has enquired from the Ld. Senior advocate appearing on behalf of the assessee as to the assessee is having financial hardship that may be caused to the assessee if it is directed to pay reasonable amount and further assessee is having an immediate danger from the AO for attachment of the account etc., To this, it was submitted by the Ld AR that there was neither a financial hardship nor that there was urgent recovery proceedings initiated by the AO by issui ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce of convenience and financial hardship for the purposes of making out a case for grant of interim stay. Considering the totality of facts and circumstances, the bench direct the assessee to deposit a sum of ₹ 21 crore as condition of stay. The Bench has arrived at a sum of ₹ 21 crores, taking into account the total demand in both the years, excluding the interest element and after reducing the amount already paid by the assessee. If ₹ 21 crores is paid the total tax demand remaining unpaid would come to around ₹ 42 crores. Therefore the bench directed the assessee to deposit ₹ 21 crores. As the assessee has shown bonafide willingness to pay ₹ 21 crores, therefore we direct the assessee to pay the same, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
