Rs.1128.46 crores Income Tax Demand against Vi Services Ltd: Bombay HC directs to Furnish Corporate Guarantee of Ultimate Parent Company [Read Order]

The division bench substituted the condition by directing the petitioner to furnish a corporate guarantee of its ultimate parent, namely, Vodafone International Holdings BV, Netherlands as accepted by the revenue
Income - Tax - Income Tax Demand - Bombay High Court - Bombay HC - Vi news - TAXSCAN

In the case of Vodafone India Services Pvt. Ltd, the Bombay High Court directs to furnish a corporate guarantee of the ultimate parent company namely, Vodafone International Holdings BV, Netherlands against the collection/recovery of tax and interest demands aggregating to Rs.1128.46 crores under the Income-tax Act, 1961. The petitioner assessee, challenged the order of the…

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