2010 (11) TMI 974

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....at the assessee, DHL Express (India) Pvt Ltd (DHL India), is a subsidiary of Deutsche Post AG (DPAG). DPAG is one of the leading global logistics providers. The Express segment of DPAG is engaged in the business of operating an international air express network that provides courier services for the door-to-door delivery of documents and light parcels around the world. The assessee carries on business in India as an international air express network service provider. 2.1 The assessee filed return of income declaring the income of Rs. 24,43,17,168/-. The Assessing Officer made reference u/s 92CA(1) of the I T Act to the TPO pursuant to which, the TPO initiated TP assessment proceedings. On the basis of the report of the TPO, the Assessing....

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.... lower authorities for grant of stay of outstanding demand and hence directly moved application before the Tribunal for stay of realization of the demand. He accordingly submitted that full stay of realization of the demand should be granted. He also requested for out of turn hearing of the matter. 2.3 The ld DR, on the other hand, while opposing the stay application submitted that the assessee has not moved application before the lower authorities for stay of realization of the demand. Referring to the decision of the coordinate Bench of the Tribunal in the case of RPG Enterprises Ltd. he submitted that although the Tribunal has unfettered power to grant stay of recovery without the Commissioner having been approached or having passed a....

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.... move application before the Revenue Authorities for granting of stay of outstanding demand. We, therefore, do not find any merit in the arguments advanced by the ld DR that the stay application should be rejected outright since the assessee has not moved any petition before the Revenue Authorities seeking stay of the demand. In our opinion, seeking stay before the lower authorities is directory and not mandatory. After hearing the rival submissions, we are satisfied that the assessee has a prima facie case. However, the assessee, in the instant case could not satisfactorily explain its financial hardship and the balance of convenience. We, therefore, direct the assessee to deposit an amount of Rs. 1.50 crores before 31.12.2010 and the bala....