N INCOME TAX APPELLATE TRIBUNAL C BENCH : BANGALORE BEFORE SHRI B.R BASKARAN, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER S.P No.252/Bang/2019 (In ITA No.3313/Bang/2018) Assessment year: 2014-15 FMC India Pvt. Ltd., Vs. Dy. Commissioner of Income-tax #6, 13th Main, Circle-3(1)(1), Vasanth Nagar, Bengaluru. Bengaluru-560 052. PAN AAACF 4579 N. APPELLANT RESPONDENT Appellant by : Smt. Shreya L, C.A Respondent by : Smt. R Premi, Addl. CIT (DR) Date of hearing : 27.09.2019 Date of Pronouncement : 27.09.2019 ORDER Per B.R. Baskaran, Accountant Member assessee has filed this stay application seeking extension of stay already granted by coordinate bench vide its order dated 15/2/2019 passed in S.P No.46/Bang/2019 for asst. year 2014-15. 2. We noticed that stay granted by above said order has expired on 14/8/2019. However, present stay application has been filed by assessee only on 27/8/2009. However, it has been submitted in petition that delay in not disposing of appeal is not attributable to assessee. Ld A.R submitted that assessee has already paid more than 50% of tax SP No.252/Bang/2019 Page 2 of 4 portion of outstanding demand. Accordingly she prayed that assessee may be granted stay. 3. We heard parties and perused record. We noticed that tax portion of demand raised upon assessee is Rs.10.31 crores and assessee has already paid 5.50 crores, i.e more than 50% of tax portion of outstanding demand. ld AR further submits that major addition was made to transfer pricing adjustment of 24.62 crores. ld AR submitted that above stay adjustment has been made at entity level, instead of restricting adjustment to international transactions only. ld AR submitted that assessee would get substantial relief on this account alone in respect of above said addition. 4. ld DR on contrary submitted that assessee may be directed to pay some more amount. 5. Having heard rival submissions, we are of view that balance of convenience is in favour of granting stay to assessee since assessee had paid more than 50% of tax portion of outstanding demand. assessee has also demonstrated that delay in disposing of appeal is not attributable to it. Accordingly we stay collection of outstanding demand for period of 6 months from date of this order or till date of disposal of appeal whichever period expires earlier. We also make it clear that assessee shall not seek adjournment on date of hearing without reasonable cause, failing which SP No.252/Bang/2019 Page 3 of 4 present stay order shall be subjected to review by Division Bench hearing appeal. 6. In result, stay application is allowed. Order pronounced in Open Court on 27th September, 2019. Sd/- Sd/- (Beena Pillai) (B.R Baskaran) Judicial Member Accountant Member Bangalore, Dated, 27th September, 2019. / vms / Copy to: 1. Applicant 2. Respondent 3. CIT 4. CIT(A) 5. DR, ITAT, Bangalore. 6. Guard file By order Asst. Registrar, ITAT, Bangalore. SP No.252/Bang/2019 Page 4 of 4 1. Date of Dictation 2. Date on which typed draft is placed before dictating Member . 3. Date on which approved draft comes to Sr.P.S . . 4. Date on which fair order is placed before dictating Member .. 5. Date on which fair order comes back to Sr. P.S. .. 6. Date of uploading order on website .. 7. If not uploaded, furnish reason for doing so .. Dictation note enclosed . 8. Date on which file goes to Bench Clerk .. 9. Date on which order goes for Xerox & endorsement 10. Date on which file goes to Head Clerk . 11. date on which file goes to Assistant Registrar for signature on order . 12. date on which file goes to dispatch section for dispatch of Tribunal Order. FMC India Pvt. Ltd. v. Dy. Commissioner of Income-tax, Circle-3(1)(1), Bengaluru