STERLITE GRID 29 LIMITED,HARYANA V. DCIT, GUJARAT

SA 1/SRT/2026

AI Insights

The case involves Sterlite Grid 29 Limited, which filed a stay application against the collection/recovery of an outstanding tax and interest demand amounting to Rs.2,76,91,490 for the assessment year 2022-23. The application was heard urgently by the Income Tax Appellate Tribunal Surat Bench. The main contention was that the addition made by the Transfer Pricing Officer, which was disallowed and added back to the assessee's income, should not lead to immediate recovery actions. The tribunal found that the issue could be resolved through a rectification application under section 154, which the assessee had not yet filed, leading to the dismissal of the stay application.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 835499 (ITAT-SURAT)
• Duration Of Justice: 8 day(s)
• Appeal Type: Stay Application
• Pronouncement Date: 11-02-2026
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2022-2023
• Appeal Filed On: 03-02-2026
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Transfer pricing; Application of stay
• Section: 154

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER Stay Application No. 1/SRT/2026 (Arising out of IT(TP)A No. 1/SRT/2026) Assessment Year : 2022-23 Sterlite Grid 29 Limited, RMZ Infinity, 5th Floor, Plot No. 15, Phase IV, Udyog Vihar, Gurugram, Gurgaon [PAN : ABBCS 7917 B] Vs. DCIT, Vapi Circle, Vapi (Applicant) .. (Respondent) Applicant represented by : Shri Neeraj Jain, AR Respondent represented by: Shri Ajay Ukey, Sr DR Date of Hearing 10.02.2026 Date of Pronouncement 11.02.2026 O R D E R PER DR. B.R.R. KUMAR, VICE-PRESIDENT:- By way of the present stay petition, the assessee-applicant seeks a stay on the collection/recovery of the outstanding demand for tax and interest amounting to Rs.2,76,91,490/-, which is impugned in appeal before this Tribunal. 2. Normally, stay applications are taken up for hearing on Fridays; however, assuming the urgency pleaded, the present stay application was taken up for hearing today, i.e. Tuesday, at the commencement of the Bench, even before adjournment matters. 3. The Ld. Counsel for the assessee fairly brought to our notice that the addition made by the Transfer Pricing Officer has already been disallowed by the assessee and added back to its income. When asked as to why a rectification application u/s.154 before the Assessing Officer could not be Printed from counselvise.com SA No. 1/SRT/2026 Sterlite Grid 29 Ltd Vs. DCIT Asst. Year : 2022-23 - 2– filed, the Ld. Counsel for the assessee submitted that, pending the filing of rectification application u/s 154, the stay application may be kept pending. We find no logic in this argument. Since the Bench strongly believes and come to the conclusion that the matter can be resolved by filing a rectification application, the remedy which the assessee has not resorted to, the application for stay is infructuous and stands dismissed. 4. The assessee may file application u/s 154 within seven days from the date of this order, till such time the Revenue is directed to refrain from taking any coercive action. In the event of failure on the part of the assessee to file such rectification application within the stipulated time, the Revenue shall be at liberty to proceed in accordance with law. 5. In the result, the stay petition is disposed of in the above terms. The order is pronounced in the open Court on 11.02.2026 Sd/- Sd/- (T.R. SENTHIL KUMAR) (DR. B.R.R. KUMAR) JUDICIAL MEMBER VICE-PRESIDENT Ahmedabad; Dated 11/02/2026 btk आदेश की \u0007ितिलिप अ ेिषत/Copy of the Order forwarded to : 1. अपीलाथ\u0007 / The Appellant 2. \b थ\u0007 / The Respondent. 3. संबंिधत आयकर आयु\u0015 / Concerned CIT 4. आयकर आयु\u0015(अपील) / The CIT(A)- 5. िवभागीय \bितिनिध, आयकर अपीलीय अिधकरण, अहमदाबाद / DR, ITAT, Ahmedabad 6. गाड फाईल / Guard file. आदेशानुसार/ BY ORDER, TRUE COPY सहायक पंजीकार (Asstt. Registrar) आयकर अपीलीय अिधकरण ITAT, Surat Printed from counselvise.com "