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TMI Blog2019 (5) TMI 859X X X X Extracts X X X X X X X X Extracts X X X X ..... l for a fresh consideration of the application for stay. But, the same would motivate the Tribunal only to take up the application for stay first, leading to another round of litigation. Instead of having one more round of litigation at the stage of stay application, we think it better to put the petitioner on terms for the grant of stay. The total liability fixed under the order of assessment i.e., pending appeal before the Tribunal is ₹ 39,92,21,960/-. It is seen that there are also interest components under Section 234B and 234C. Writ Petition is disposed of directing the petitioner to pay a sum of ₹ 4,00,00,000/- (Rupees Four Crores) within a period of four weeks from the date of receipt of a copy of this order. Upon s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ifficulty. Aggrieved by the said order, the petitioner is before us. The main ground on which the petitioner challenges the impugned order of rejection of stay is that in respect of an order of assessment passed for the previous assessment year, the very same Tribunal allowed an appeal, on the ground that both parties failed to submit the complete documents and remanding the matter back to the Assessing Officer. The issue involved was the application of comparables in transfer pricing. It appears that seven companies were taken as comparables and the rate charged by one entity was taken as the basis. The second contention is that without looking into the balance sheet, but looking into the cash flow statement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... we are of the view that this case would not fall under the category of a case where the application for stay deserved to be rejected outright. That takes us to the next question as to what we should do. Where we find that the outright rejection of the application for stay is not proper, we may in normal circumstances remand the matter back to the Tribunal for a fresh consideration of the application for stay. But, the same would motivate the Tribunal only to take up the application for stay first, leading to another round of litigation. Instead of having one more round of litigation at the stage of stay application, we think it better to put the petitioner on terms for the grant of stay. The total liability ..... X X X X Extracts X X X X X X X X Extracts X X X X
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