2019 (2) TMI 992

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....ntant Member For the Petitioner : Shri. S.P. Chidambaram, Advocate For the Respondent : Shri. V. Sreenivasan, IRS, JCIT. ORDER PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER Assessee through this stay petition seeks stay of recovery of demand of Rs. 3,25,08,950/- comprising of tax of Rs. 2,09,73,525/- and interest of Rs. 1,15,35,425/-. 2. Ld. Counsel for the assessee submitted that tax....

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....artmental Representative, on the other hand submitted that assessee could not show any good reason for grant of a stay. 4. We have heard both the parties, perused the orders of lower authorities and the stay petitions filed by the assessee. Contention of the assessee is that if downward adjustment was done on the international transactions alone considered, the effect thereof would be Rs. 15,61....