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TMI Blog2019 (1) TMI 294X X X X Extracts X X X X X X X X Extracts X X X X ..... f the tax demand of approx. ₹ 70 Crores. We grant stay on recovery of the demand outstanding for a period of 6 months commencing today i.e., 04.01.2019, or disposal of appeal, whichever is earlier; subject to the assessee paying an amount of ₹ 35 Crores i.e., approx. 50% of the tax demand (excluding interest of approx. 38 Crores) - Failure on the part of the assessee to comply with the above directions will result in stay being vacated automatically - S.P. No.275/Bang/2018 And IT(TP)A No. 3244/Bang/2018 - - - Dated:- 4-1-2019 - SHRI N. V. VASUDEVAN, VICE PRESIDENT AND SHRI JASON P BOAZ, ACCOUNTANT MEMBER For The Petitioner : Shri Sharath Rao, CA For The Respondent : Shri R. N. Siddappajji, Addl.CIT ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n recovery of the outstanding demand. According to the learned AR, the assessee is confident of getting substantial relief on most of the issues raised in the appeal, on which additions/disallowances have been made, as it has a very good case on merits; especially with regard to the TP adjustments made under section 92CA(3) of the Act. It is also submitted that the assessee is undertaking substantial business expansion and consequently has large capital commitments in this regard and therefore it would be put to undue hardship and inconvenience if directed to make the payment of the outstanding demand. It was also prayed that the Tribunal may kindly expedite hearing of this appeal so that the issues in dispute can be settled at the earliest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore 31.01.2019. 2. Payment of tax of ₹ 10 Crores on or before 28.02.2019, and 3. Payment of tax of ₹ 10 Crores on or before 15.03.2019 ( Total ₹ 35 Crores) 6. Failure on the part of the assessee to comply with the above directions will result in stay being vacated automatically and all other legal consequences shall follow. The case is fixed for early hearing on 26.03.2019. Since the date of hearing has been announced in the open court in the presence of both the parties, no notice of hearing shall be separately issued. 7. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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