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TMI Blog2020 (2) TMI 1094X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee s own case and the SLP filed by the Revenue has been dismissed by the Hon'ble Supreme Court Further, if MAT credit as claimed by the assessee is given, then, there will be a refund due to the assessee. Considering the totality of the facts of the case we extend the stay of realization of outstanding demand for a further period of six months or till the disposal of the appeal whichever is earlier. Since the assessee does not intend to pursue as an intervenor in the matter before the larger Special Bench at Mumbai, the instant appeal is thus ripe for hearing. We, therefore, with the consent of both the sides, fix the appeal for hearing on 4th May, 2020 which was announced in the open court. It was further announced that no sepa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the hearing could not take place since the issues involved have been referred to a larger Special Bench in Mumbai which is still pending. He further submitted that one of the issues i.e., the issue relating to disallowance of supplementary rent stands decided in favour of the assessee by the decision of the Hon'ble Delhi High Court in assessee s own case vide order dated 31st October, 2017 in ITA No.914/2017 and 916/2017. The SLP filed by the Revenue against the order of the Hon'ble High Court has been dismissed by the Hon'ble Supreme Court. Referring to the decision of the Hon'ble Delhi High Court in the case of Pepsi Foods Pvt. Ltd. vs. ACIT, reported in 376 ITR 87, he submitted that the Hon'ble High Court, after cons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rring to the decision of the Delhi Bench of the Tribunal in the case of Reutes India (P) Ltd. vs. DCIT reported in 3 SOT 886 (Delhi), submitted that the Tribunal in the said decision has held that merely because the assessee can afford to pay taxes, it cannot be said that no stay can be granted. He accordingly submitted that the plea of the Revenue has to be rejected and the extension should be granted to the assessee. He, however, finally submitted that the assessee is no longer interested in becoming an intervenor in the matter pending before the Mumbai Special Bench of the Tribunal. Therefore, he has no objection if this appeal is heard on merit without waiting for the hearing of the matter in the Mumbai Special Bench of the Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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