The High Court addressed the rejection of a blanket ...

HC affirms the order where Tribunal rejected blanket stay on tax recovery, required Rs. 230 crores payment & corporate guarantee. No stay for high-pitched assessment.

Case Laws Income Tax

June 20, 2024

The High Court addressed the rejection of a blanket unconditional stay on tax and interest demands by the Tribunal. The Tribunal granted a conditional stay, requiring the petitioner to pay Rs. 230 crores, provide a corporate guarantee exceeding Rs. 900 crores, and cooperate in appeal disposal. The Court held that the recovery was not protective and upheld the Tribunal's order, noting prior years' compliance. The Court modified the corporate guarantee condition to the ultimate parent company, Vodafone International Holdings BV. The Court affirmed the Tribunal's order, except for the modified condition.

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The High Court addressed the rejection of a blanket ...

HC affirms the order where Tribunal rejected blanket stay on tax recovery, required Rs. 230 crores payment & corporate guarantee. No stay for high-pitched assessment.

Case Laws Income Tax

June 20, 2024

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