2014 (4) TMI 940

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....produced below: 8. We have considered the rival submissions. We are of the view that on the two major issues highlighted by the ld. counsel for the assessee before us there is a prima facie case made out by the assessee. In fact, in the Special Bench decision referred to by the AO for denying deduction u/s. 80 IA of the Act, there was dissenting view expressed by one of the Members of the Bench and the issue was decided by him in favour of the assessee. The assessee is now in appeal before the Hon'ble High Court against the decision of the Special Bench. As far as transfer pricing adjustment made by the AO is concerned, we are of the view that on the issue whether mark-up can be applied on pass through cost, there is a decision of the by....

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....tay has been granted were never adjourned at the request of the assessee. Considering all these facts the stay was extended for a further period of six months vide aforementioned order dated 14/6/2013. The application of the assessee filed for extension of stay was fixed for hearing on various dates. It was the case of Ld. Sr. Counsel for the assessee that in view of the pendancy of appeals pertaining to earlier years, the appeal in regard to which stay is granted could not be heard as it was the case of the revenue that without disposing of the earlier years appeals, this appeal cannot be heard. It was submitted by Ld. Sr. Counsel for the assessee that process of hearing other appeals is going on and some of the appeals have already been d....

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....ed in the above part of this order. Considering all these facts which have been described above, we are of the opinion that extension of stay should be granted to the assessee as the same will be in accordance with the ratio laid down by Hon'ble Jurisdictional High Court in the case of in the case of Atos Information Technology vs. ITAT (supra) and the following observations will be relevant:  "8.We have considered the submissions. We find that the impugned order of the Tribunal has refused to extend the stay not on the ground that it has no power to do so under Section 254 of the Act but only on the ground that the petition has no financial difficulty. However, in any view of the manner, we find that the stay has been granted by th....