2019 (5) TMI 859

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.... : K LAKSHMAN AST SOL GEN ORDER: (per Hon'ble Sri Justice V. Ramasubramanian) Aggrieved by the rejection of an application for stay pending disposal of a first appeal before the Income Tax Appellate Tribunal, the assessee has come up with the above Writ Petition. Heard Mr.S.Ravi, learned Senior Counsel appearing for the petitioner and Mr.T.Vinod Kumar, learned Senior Standing Counsel a....

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.... respect of an order of assessment passed for the previous assessment year, the very same Tribunal allowed an appeal, on the ground that both parties failed to submit the complete documents and remanding the matter back to the Assessing Officer. The issue involved was the application of comparables in transfer pricing. It appears that seven companies were taken as comparables and the rate charged ....

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....and 435/Hyd/16 in respect of the assessment year 2011-12 dated 27.07.2016 would show that the comparable taken on the basis of the pricing adopted by the Infosys was not accepted by the Tribunal. But, the Assessing Officer in respect of the assessment year 2014-15 has made a comparison with certain companies, some of which stood excluded by the order of the Tribunal in respect of the assessment ye....

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....y. But, the same would motivate the Tribunal only to take up the application for stay first, leading to another round of litigation. Instead of having one more round of litigation at the stage of stay application, we think it better to put the petitioner on terms for the grant of stay. The total liability fixed under the order of assessment i.e., pending appeal before the Tribunal is Rs. 39,92,....