M/s. Finastra Software Solutions (India) Private Limited, Bengaluru V. Assistant Commissioner of Income Tax, Circle-4(1)(2), Bengaluru

SA 129/BANG/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 5915 (ITAT-BANGALORE)
• Duration Of Justice: 1 year(s) 1 month(s) 3 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 01-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 28-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B R RAMESH JT BENGALURU
• Assessee Lawyers: T SURYANARAYANA
• Keywords: Extension of stay
• Section: 12; 2; 11

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : BANGALORE BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER S.P. NOS.128 & 129/BANG/2018 [IN IT (TP) A NO S . 5 2 9 /B/16 & 2695 /BANG/201 7 ] ASSESSMENT YEAR S : 20 11 - 1 2 & 2013 - 14 FINASTRA SOFTWARE SOLUTIONS (INDIA) PRIVATE LTD., [FORMERLY MISYS SOFTWARE SOLUTIONS (INDIA) PVT. LTD.], BAGMANE CONSTELLATION BUSINESS PARK, 4 TH TO 6 TH FLOOR, VIRGO BUILDING, ORR, DODDANEKKUNDI, MARATHAHALLI, BANGALORE 0 560 037. PAN: AAACK 9067G VS. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 4(1)(2), BANGALORE. APPLIC ANT RESPONDENT A PPELLANT BY : SHRI T. SURYANARAYANA, ADVOCATE RE SPONDENT BY : SHRI B.R. RAMESH, JT. CIT(DR)(ITAT), BENGALURU. DATE OF HEARING : 13 . 0 4 .201 8 DA TE OF PRONOUNCEMENT : 18 . 0 4 .201 8 O R D E R PER INTURI RAMA RAO, ACCOUNTANT MEMBER THESE ARE PETITIONS FILED BY THE ASSESSEE SEEKIN G FOR GRANT OF EXTENSION OF STAY OF OUTSTANDING DEMAND GRANTED BY THIS TRIBUNAL VIDE ORDER DATED 18.01.2018 IN SP NOS.13 & 14/BANG/2018 ARISIN G OUT OF IT(TP)A SP NOS.128 & 129/BANG/2018 PAGE 2 OF 3 NOS.529/BANG/2016 & 2695/BANG/2017 FOR THE ASSESSME NT YEAR 2011-12 AND 2013-14. 2. IT IS SUBMITTED BY THE LD. AR OF THE ASSESSEE TH AT THE TRIBUNAL VIDE ORDER DATED 18.01.2018 ORIGINALLY GRANTED THE STAY UPTO 31.03.2018 WHICH HAS EXPIRED. THE APPEALS ARE NOW FIXED FOR HEARING ON 24 TH APRIL, 2018 AND THE DELAY IN DISPOSAL OF THE APPEALS IS NOT DUE TO THE ASSESSEE COMPANY. THEREFORE, EXTENSION OF STAY IS REQUIRED. 3. WE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE M ATERIAL ON RECORD. NOW THE LAW IS SETTLED BY THE HONBLE DELHI HIGH CO URT IN THE CASE OF PEPSI FOODS (P) LTD. VS. ACIT 376 ITR 87 (DEL) AND THE HO NBLE BOMBAY HIGH COURT IN THE CASE OF NARANG OVERSEAS PRIVATE LIMITED V. INCOME TAX APPELLATE TRIBUNAL (295 ITR 22) (BOM.) WHEN THE DELAY IN DISPOSAL OF APPEAL IS NOT ATTRIBUTABLE TO THE ASSESSEE, STAY HA S TO BE EXTENDED. THIS RATIO WAS FOLLOWED BY THE CO-ORDINATE BENCH OF THIS TRIBUNAL IN THE CASE OF M/S. SAP LABS INDIA PVT. LTD. VS. ACIT (67 TAXMANN.COM 78). WE MAY FURTHER STATE THAT THE EXISTENCE OF ALL CONDITIONS FOR GRANT OF STAY HAS ALREADY BEEN CONSIDERED BY THE TRIBUNAL AT THE TIME OF GRAN TING ORIGINAL STAY AND NO NEW CONDITION CAN BE IMPOSED WHILE EXTENDING THE ST AY. RESPECTFULLY FOLLOWING THE DECISION OF THE CO-ORDINATE BENCH, WE HOLD THAT IT IS A FIT CASE TO EXTEND STAY FOR A FURTHER PERIOD UPTO 30.06.2018 OR TILL DISPOSAL OF THE APPEAL WHICHEVER IS EARLIER. THE STAY IS SUBJECT T O CONDITION THAT THE SP NOS.128 & 129/BANG/2018 PAGE 3 OF 3 ASSESSEE SHALL NOT SEEK ADJOURNMENT OF THE CASE FRO M HEARING WITHOUT ANY REASONABLE AND JUST CAUSE. 4. IN THE RESULT, THE STAY PETITIONS ARE ALLOWED. PRONOUNCED IN THE OPEN COURT ON THIS 18 TH DAY OF APRIL, 2018. SD/- SD/- ( SUNIL KUMAR YADAV ) ( INTURI RAMA RAO ) JUDICIA L MEMBER ACCOUNTANT MEMBER BANGALORE, DATED, THE 18 TH APRIL, 2018. / D ESAI S MURTHY / COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY ITAT, BANGALORE.