ITAT further extends stay on demand of Sony Pictures

Sony Pictures Networks India Private Limited Vs ACIT (ITAT Mumbai) By means of this stay application, the appellant seeks to get extension of demand amounting to Rs.71,12,41,378/- already stayed by the Tribunal for the assessment year 2010-11, till the disposal of appeal. The Ld. counsel for the appellant submits that the Tribunal vide its order dated 18.03.2016, had initially granted stay on the recovery of demand of Rs.112,29,02,350/- of the assessee with a direction to the Revenue to adjust a refund of Rs.41,16,60,980/- that was due to the assessee for AY 2007-08. Accordingly, the Ld. couns...