Per Dr. B.R.R. Kumar, Accountant Member: Brief facts of the case are that the assessment u/s 143(3) of the Income Tax Act, 1961 has been framed at an income of Rs.48,98,94,855/- by making addition on account of royalty fees, marketing contribution, reservation charge and technology charges etc. The total demand raised inc. interest - Rs.5,60,37,458/- Total taxes paid - Nil Net demand outstanding - Rs.5,60,37,458/-
2. During the hearing, the ld. AR argued that the interest u/s 234B of Rs.1,50,86,988/- is not applicable in the case of the assessee owing to the judgment of Honble Jurisdictional High Court thus levying an amount of Rs.4,09,50,470/- to be paid. SA No. 70Del/2020 Radisson Hotels International Incorporated
3. The ld. AR, has also agreed to pay an amount of Rs.50,00,000/- by 15.03.2020 and argued that any recovery/coercive action would hamper the position of the assessee company.
4. The ld. DR argued that the assessee may be asked to pay at least 50% of the tax dues keeping in view the national interests.
5. We have gone through the facts before us. With the amount agreed to be paid by the assessee of Rs.50,00,000/- by 15.03.2020 and the pending refunds of Rs.84,97,000/- for the assessment year 2017-18, Rs.2,20,12,950/- and Rs.2,81,81,480/- for the assessment year 2019-20 (as per the page no. 11 of the application), the total collection would be more than the total demand. Keeping in view the facts of the case and the refund position of the assessee, we hereby grant stay on the outstanding demand for a period of 180 days from the date of the order or till the disposal of the appeal whichever is earlier. The hearing in this case is fixed on 07.04.2020.
6. In the result, the Stay Application of the assessee is allowed. Order Pronounced in the Open Court on 03/02/2020. Sd/- Sd/- (Sushma Chowla) (Dr. B.R.R. Kumar) VICE PRESIDENT ACCOUNTANT MEMBER Dated: 03/02/2020 *Subodh*