Stay on recovery granted as huge amount of penalty already recovered from 'Vodafone' by adjusting refund due

INCOME TAX: Where pursuant to addition made to income of assessee a penalty under section 271(1)(c) was imposed and assessee filed an appeal against such penalty before Commissioner (Appeals), since revenue had recovered huge amount of penalty by way of adjustment from refund payable to assessee, assessee was to be granted stay against further recovery of penalty amount till final disposal of appeal by Commissioner (Appeals)

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