Bombay HC restrains taxman from forced steps against Idea

The Bombay High Court on Wednesday restrained the Income Tax (I-T) department from taking coercive measures against Idea Cellular for its tax demand of Rs 3,900 crore. The tax department raised the demand against the telecom major and its subsidiary Aditya Birla Telecom (ABTL). 

Also read: SC order barring accused to move HC violative of law: RTL

While a demand of Rs 2,400 crore had been raised against ABTL, a tax notice seeking Ts 1,500 crore had been slapped on Idea.  It had argued that the demerger in 2009, which saw transfer of licences, assets and liabilities from ABTL to Idea was nothing but a slump sale and that capital gains tax was payable.

However, the company has been claiming that it was a High Court approved merger, where there was no consideration on transfer of licenses. Also, there was no additional taxable income, it claimed.

Idea had moved the Bombay HC seeking a stay on the tax department's order. The matter will now be heard by the division bench on August 22.

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