ORDER
PER SAKTIJIT DEY, J.M.:
By this stay application the Assessee seeks to stay of collection of outstanding demand of Rs. 1,39,89,131/-.
2. The learned AR submitted that the demand raised is as a consequence of exclusion of communication expenses from export turnover while calculating exemption u/s 10A and on account of transfer pricing adjustments. It was submitted that so far as exclusion of communication expenses from
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export turnover is concerned, the issue is decided in favour of the assessee by different High Courts as well as different Benches of Tribunal including the ITAT, Hyderabad. With regard to transfer pricing adjustment, the learned AR submitted that most of the issues have been decided in favour of the assessee by ITAT, Hyderabad in assessee's appeal for AY 2007-08 in ITA No. 2066/Hyd/2011 dated 31/01/2013. It was further submitted that if the demand relating to the aforesaid covered issues are excluded, then, the demand relating to other issues, on which, the assessee has also a arguable case, would be about Rs. 40 lakhs. The learned AR, therefore, submitted that as the assessee is having a strong prima-facie case, absolute stay may be granted.
3. The learned DR, on the other hand, strongly opposed to grant of absolute stay.
4. We have heard the rival submissions and perused the materials on record. Prima facie, we find some force in the contentions of the learned AR that some of the issues in dispute are covered in favour of the assessee. Therefore, considering the totality of the facts and circumstances of the case we are inclined to grant conditional stay by directing the assessee to pay an amount of Rs. 30,00,000/- by 30/04/2013 and produce the proof of such payment before the AO. On payment of such amount, recovery of the balance demand shall be stayed for a period of six months from the date of this order or till the disposal of appeal, whichever is earlier.
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5. Since, the corresponding appeal of the assessee has been posted for hearing on 03/06/2013, if the parties want to file the paper books, if any, the same may be filed on or before 15thMay, 2013. If the assessee seeks any adjournment, the stay automatically gets vacated. We order accordingly.
6. In the result, the Stay Application filed by the assessee is disposed of as above.
Pronounced in the open court on 19/04/2013. Sd/- Sd/-
(CHANDRA POOJARI) (SAKTIJIT DEY)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Hyderabad, Dated: 19th April, 2013. Kv
Copy to:-
1) Market Tools Research Pvt. Ltd., 1stFloor, Phase 1A and 3rdFloor, Phasse 1B, Cyber Pearl, Hitech City, Hyderabad.
2) DCIT, Circle - 16(2), Hyderabad
3) The DRP, Hyderabad
4) The DIT, Hyderabad
5) The Departmental Representative, I.T.A.T., Hyd.
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