ITAT grants stay to Vodafone subject to payment of tax of Rs 230 crores

Vodafone India Services Limited Vs ACIT (ITAT Mumbai) 1. By way of this application, the asses see-applicant seeks a stay on collection recovery of the tax and interest demands, aggregating to Rs 1128.46 crores, in the matter of assessment under section 143(3) r.w.s. 144C of the Income Tax Act, 1961, for the assessment year 2014- 15, till the disposal of the related appeal before us. 2. Briefly stated, some material facts, as culled out from the material on record, are as As we set out our understanding of facts, we must make it clear that as this exercise has been conducted without the benef...