Income Tax Appellate Tribunal - Hyderabad
Epam Systems India Private Limited ... vs Acit, Circle-17(1), Hyd, Hyderabad on 24 March, 2017
1
SA.No.50/Hyd/2017 in ITA.No.192/Hyd/2017
EPAM Systems India P. Ltd., Hyderabad.
IN THE INCOME TAX APPELLATE TRIBUNAL
HYDERABAD BENCHES "B" : HYDERABAD
BEFORE SHRI D. MANMOHAN, VICE PRESIDENT
AND
SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER
Stay Application No.50/Hyd/2017
Arising out of
ITA.No.192/Hyd/2017 - Assessment Year 2012-2013
EPAM Systems India P. Ltd., Asst. Commissioner of
(formerly known as Alliance Global Income Tax, Circle-17(1)
Services IT India P. Ltd.,) vs. Hyderabad.
Hyderabad - 500081
PAN AAACW2012R
(Applicant) (Respondent)
For Applicant : Shri Abhiroop Bhargav
For Respondent : Smt. U. Minichandran
Date of Hearing : 24.03.2017
Date of Pronouncement : 24.03.2017
ORDER
PER D. MANMOHAN, V.P. By this stay application, the assessee seeks stay of collection of outstanding demand of Rs.1.24 crores, pending disposal of the appeal.
2. At the outset, it may be noticed that the appeal filed by the assessee on 17.02.2017 was posted for hearing on 16.05.2017. Learned Counsel for the Assessee briefly explained the facts of the case and adverted our attention to the application filed before the A.O. under section 154 of the Act to submit that there was a glaring error in the order passed by the A.O since the directions of the DRP were not properly carried out. According to the Learned Counsel for the Assessee, if the order of A.O. is rectified the demand would be reduced from 2 SA.No.50/Hyd/2017 in ITA.No.192/Hyd/2017 EPAM Systems India P. Ltd., Hyderabad.
Rs.1.24 crores to Rs.22,17,594 which was already paid by the assessee and thus, the assessee has a strong prima facie case and balance of convenience is in favour of the assessee-company for granting stay of collection of outstanding demand.
3. We have heard the Ld. D.R. and carefully perused the record.
4. Having regard to the circumstances of the case, we are of the view that it is a fit case for grant of stay of collection of outstanding demand and we direct the A.O. accordingly. The appeal having been posted for hearing on 16.05.2017, we wish and hope that the D.R. would advise the A.O. to pass an order in response to the rectification petition filed under section 154 of the Act expeditiously so that the Tribunal can only focus on main issues under dispute.
5. As pronounced in the open Court, the stay application filed by the assessee is treated as allowed.
Order pronounced in the open Court on 24.03.2017.
Sd/- Sd/- (B. RAMAKOTAIAH) (D.MANMOHAN) ACCOUNTANT MEMBER VICE PRESIDENT Hyderabad, Dated 24th March, 2017 VBP/- Copy to
1. EPAM Systems India P. Ltd., (Previously known as M/s. Alliance Global Services IT India P. Ltd.,) Plot No.5, North Wing, 3rd and 4th Floor, Software Units Layout, Madhapur, Hyderabad - 500 033.
2. The Asst. Commissioner of Income Tax, Circle-17(1), Aayakar Bhavan, Basheerbagh, Hyderabad.
3. Disputes Resolution Panel-1, G-18, Central Revenue Buildings, Queens Road, Bengaluru - 560 001.
4. Pr. CIT-1, Hyderabad.
5. Dy. Commissioner of Income Tax/Transfer Pricing Officer-1, 3rd Floor, 'D' Block, I.T. Towers, A.C. Guards, Hyderabad-004.
6. D.R. ITAT "B" Bench, Hyderabad
7. Guard File.