Mumbai: The Bombay High Court on Monday directed telecom major Vodafone India to deposit with it an additional amount of Rs five crore before March 31, in connection with an over Rs 77-crore tax demand, while the Income Tax department decides on the company's rectification application.
The division bench headed by Justice DY Chandrachud was hearing the petition filed by Vodafone, challenging the March 21 notice by the Income Tax, demanding over Rs 77 crore in unpaid taxes.
Vodafone, which on Saturday deposited Rs 10 crore, will have to deposit another Rs five crore. If the additional amount is deposited, then no coercive steps will be taken by the income tax department.
The court also directed the assessing officer of IT to hear and decide within 12 weeks the application filed by Vodafone, seeking rectification of the tax amount demanded....more
08:19 PM, Mar 26, 2012
The court hearings had gone on through all of August. On September 8, 2010, the Bombay High Court was packed to the rafters with newspaper reporters of all hues. There was a battery of lawyers representing the Government of India and telecom giant Vodafone. There were two judges who had been hearing the famous Vodafone tax case: DY Chandrachud and JP Devadhar. Though Devadhar was in Nagpur that day, he...
01:18 PM, Feb 07, 2012