Income Tax Appellate Tribunal - Delhi
Boston Scientific India Private ... vs Acit, Circle-4(2), New Delhi on 13 April, 2023
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH "I" NEW DELHI
BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER
AND
SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER
S.A No.163/Del/2023
(In ITA No.2340/Del/2022)
Assessment Year : 2018-19
Bostom Scientific India ACIT
Private Limited Circle - 4 (2)
C-40/41, Okhla Industrial Vs. New Delhi
Area, Phase-2, New Delhi
PAN No.AABCG9446Q
(Appellant) (Respondent)
Assessee by : Sh. Vishal Kalra, Advocate
Ms. Sumisha, Advocate
Department by : Ms. Mrinal Kumar Dass, Sr. DR.
Date of hearing : 13-04-2023
Date of pronouncement : 13-04-2023
ORDER
PER N.K BILLAIYA, AM :
This stay application by the assessee is directed towards the outstanding tax liability of Rs.32562840/- arising out of the assessment order for A.Y.2018-19.
2. Referring to the statement showing computation of tax demand the Counsel pointed that the corporate tax addition on respect disallowance of deprecation which issue is fully covered by the decision of the coordinate Bench in assessee's own case for earlier assessment year. Referring to the TP adjustment the Counsel pointed out that the same relates to the disallowance of reimbursements paid by the assessee to its associated enterprises. The Counsel stated that this issue is also covered in favour of the assessee and against the revenue by the several decisions of the Hon'ble High Courts.
3. The Counsel prayed for the stay of demand.
4. The DR could not bring any distinguishing decision in favour of the revenue.
5. We have carefully perused the stay application qua the issues. In our considered opinion the additions/ adjustments made by the AO/ TPO/DRP prima facie appear to be deleted as per the precedence available. We are of the considered opinion that the assessee has a strong case in its favour, therefore, dismissing the stay application we allow the appeal to be heard on out of turn basis on 12.07.2023. Registry is directed to list the appeal for hearing on 12.07.2023. Since the date is in the knowledge of both the parties the service of notice is waived.
6. This stay application is accordingly disposed of.
7. Decision announced in the open court in the presence of both the parties on 13.04.2023.
Sd/- Sd/- (SAKTIJIT DEY) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated: -04-2023 *Neha*