Tata Steel: ITAT refuses to stay adjustment of Demand against Refund

Tata Steel Limited Vs DCIT (ITAT Mumbai)

1. By way of these stay applications, the assessee applicant has sought a stay on collection/ recovery of tax and interest demands aggregating to Rs 1,223.83 crores, in the matter of assessment under section 143(3) of the Income Tax Act, 1961, for the assessment year 2009-10 to 2014-15, and also a stay on adjustment of these demands against refund of Rs 442.22 crores due to the assessee.

2. Heard the parties, perused the records.

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