Ahmedabad ITAT Special
Bench formulates guidelines for expeditious hearing of cases referred to
Special Benches and Third Members, setting out 120 days threshold for
commencing the hearing and 30 days outer limit in general for
adjournments; Notes that a Special Bench was constituted in 2016 to decide
on - whether or not the provisions of Sec. 92 can be invoked in a situation in
which income of the assessee is eligible for tax exemption or tax holiday, or
in a situation in which there cannot be any motive in manipulating the prices
at which international transactions have been entered into; Further notes that
despite the constitution of a special bench and the stay having been granted to
assessee, the appeals have not even been listed for hearing for almost two
years; Expressing anguish on the inordinate delay in the special bench case
being taken up and emphasizing on priority disposal of such cases, ITAT SB now
lays down guidelines; Lists the matter for February 13, 2018 and grants further
stay on collection / recovery of outstanding demand of tax & interest to
assessee till 180 days from the date of this order or till the disposal of
these appeals- whichever is earlier.:ITAT
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