2020 (5) TMI 678

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.... Sh. K C Devdas, CA SUSHMA CHOWLA V.P. J. ORDER The applicant has filed the stay application for urgent hearing of extension of stay against recovery of outstanding demand. Thereafter, the applicant also filed the stay application seeking stay of balance outstanding demand relating to Assessment Year 2012-13. 2. The stay application was heard through Video Conferencing facility. The ca....

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....uld be within (+/-) 5% of the total margins of comparables and there would not be any need to go into the aspect of the applicant was a BPO or KPO. He also pointed Out that two additions have been made one is on account of TP adjustment of Rs. 5.47 crores and the second of Rs. 2,62,072/- u/s 37(1) of the Act. He pointed out that the last stay order Was passed on ()9.03.2020, which has now expired ....

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....cable to the facts of the case, as this was case of extension of stay and not grant of stay. 5. We have heard both parties through video co n ferencing plat form and perused the stay application filed by the applicant. This application was moved seeking extension of stay granted to the applicant. The last stay order which was granted to 09.03.2020 under which no conditions were imposed. The sta....

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....A) Of the Act. The said provisions have been inserted by the Finance Act, 2020 w.e.f. 01.04.2020. The present case is of extension of stay and we are Of the view that the said provisions cannot be invoked in the present stay petition of extension of stay. Accordingly, we stay the recovery of outstanding demand for a period of 180 days or till the disposal of appeal, whichever is earlier. The appea....