ITAT grants conditional stay to Voda India Services in transfer pricing case
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Unlisted VISPL, formerly `3 Global Services Pvt Ltd’, which is liable to pay the sum and provide the guarantee, is likely to contest the tribunal ruling in a high court, a lawyer familiar with the matter, told ET.
Agencies
It also directed VISPL to “furnish a corporate guarantee from an associate company, which has unencumbered assets in India in excess of the balance disputed demands, i.e. Rs 900 crore”.
The Income Tax Appellate Tribunal (ITAT) on Monday granted a conditional stay to a Vodafone Group Plc entity Vodafone India Services Pvt Ltd (VISPL) in a transfer pricing case, directing the company to pay Rs 230 crore towards a disputed tax demand and provide a corporate guarantee from an associate company worth Rs 900 crore.
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