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| The Tax Publishers2019 TaxPub(DT) 2933 (Chen-Trib) INCOME TAX ACT, 1961
Section 220
Where assessee sought stay of demand, Tribunal opined that assessee could not make out a strong prima facie case but considering the fact that it had already paid substantial amount out of the original amount, the rest of the demand was stayed subjected to payment of stipulated amount.
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Recovery - Stay of demand - Assessee pleaded having a strong prima facie case -
Assessee sought stay of demand of income tax made by way of an ALP adjustment and due to denial of benefit under section 80-IB. Assessee contended that the process of manufacturing liquid flavors and dry mix powers resulted in change in production of a distinct product and therefore, it amounted to manufacturing activity. Assessee pleaded that it had a strong prima facie case for grant of stay. Held: Assessee could not make out a strong prima facie case on the receipts of addition to the returned income. However, considering the fact that assessee already paid 2 crores out of the original demand, the balance demand was stayed subject to payment of Rs. 1 crore on or before the stipulated date.
REFERRED :
FAVOUR : Partly in assessee's favour
A.Y. :
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