ROYAL SUNDARAM GENERAL INSURANCE CO. LTD. Vs. THE DEPUTY COMMISSIONER OF INCOME TAX, LARGE TAX PAYER UNIT-1

JUDGEMENT

(1.) These appeals, filed by the assessee under Section 260A of the Income Tax Act, 1961 (for short, the Act), are directed against the common order dated 08.2.2019 made respectively in MA.Nos.61, 62, 63 and 58/ Chny/2018 on the file of the Income Tax Appellate Tribunal, Chennai 'D' Bench for the assessment years 2012-13, 2013-14, 2014-15 and 2010-11 respectively. The said miscellaneous applications were filed by the assessee to modify the stay order passed by the Tribunal in S.P.Nos.1 to 8/Mds/2018 dated 12.1.2018.

(2.) The assessee challenged the assessments for the years 2008-09 to 2014-15 after having been unsuccessful before the Commissioner of Income Tax (Appeals). Before the Tribunal, along with the appeals, the assessee filed petitions praying for stay of the demand for all the assessment years.

(3.) To substantiate a prima facie case before the Tribunal, the assessee contended that substantial portion of the disallowance was on the payments made to motor vehicle dealers, that the demand itself is nearly to an extent of Rs.200 Crores for all the seven assessment years and that the assessee has got an excellent case on merits in the main appeals. The assessee relied upon certain decisions of this Court rendered in respect of other insurance companies carrying on identical business, which, according to the assessee, had attained finality, as the Revenue did not file any appeals before the Hon'ble Supreme Court. Thus, it was contended that the balance of convenience was in favour of the assessee and if an order of stay of the demand was not granted, the assessee would be put to irreparable hardship.