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The Delhi High Court on Wednesday allowed the Income Tax Department to go ahead with its penalty proceedings against telecom major Vodafone, but asked the agency not to give effect to its final order till the next hearing in July.
A Vacation Bench of V Kameswar Rao and IS Mehta passed the order on Vodafone’s plea seeking a stay on the penalty proceedings, which was initiated against the telecom company in December 2015, in connection with an assessment order for the year 2011-12.
Vodafone had moved the stay petition challenging the decision of a dispute resolution panel to disallow exemptions amounting to over ₹2,800 crore, and also proposed adding the amount to its taxable income for the assessment year 2011-12.
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