Demand for disallowance of Depreciation on 3G Spectrum Fees: ITAT grants Stay to Vodafone Idea

Vodafone Idea Ltd. Vs DCIT (ITAT Mumbai) We find that in the instant case, the AO had made disallowance on depreciation on 3G Spectrum Fees to the tune of Rs. 408.01 crores. And if the said disallowance is ignored, the net result of remaining additions would only result in assessed loss and hence no tax is per se payable for this AY. We find that assessee had made a prima facie case in its favour and accordingly we inclined to grant extension of stay for a further period of 180 days from today or till the disposal of the appeal by this Tribunal for this AY, whichever is earlier. The assessee i...