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TMI Blog2019 (8) TMI 620X X X X Extracts X X X X X X X X Extracts X X X X ..... stay petition would have been dismissed outrightly for recovery of the outstanding demand. Even if the petitioner-assessee makes a request to grant an absolute stay, the ITAT has to apply its mind to all the possible avenues that are available for the dispensation of justice. If absolute stay is not possible, parameters of conditional stay has to be examined and an appropriate decision has to be t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te) O R D E R The petitioner has challenged the order dated 22.02.2019 passed by the Income Tax Appellate Tribunal, B Bench, Bengaluru, in SP No.59/BANG/2019 inter alia challenging the assessment Order dated 12.10.2018 passed by Deputy Commissioner of Income Tax Circle 6(1)(2), Bengaluru (Annexure-B) and the consequential Demand Notice issued under Section 156 to the Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the petitioner, the Transfer Pricing Officer passed an order under Section 92CA of the Act on 31.10.2017 by making an adjustment of ₹ 94,25,45,710/-. The Assessing Officer passed an assessment order on 12.10.2018 based on the Transfer Pricing adjustment made by the Transfer Officer and made a tax demand of ₹ 9,29,93,360/-. In furtherance to the assessment order, a Demand Notice was als ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an endeavor to justify the impugned order fairly submits that the matter requires reconsideration by the ITAT. 5. Having heard the learned counsel for respective parties and perusing the materials on record, it is ex-facie apparent that the order impugned is a cryptic order passed by the ITAT without assigning valid reasons. No stay petition would have been dismissed outrightly for recov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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