In a surprise move, the Income Tax (I-T) Department on Tuesday issued a reminder to Vodafone over its Rs 14,200 crore tax demand and threatened to seize its assets in the case of non-payment despite the fact that the case is under international arbitration.
The move comes at a time when Prime Minister Narendra Modi is promising investors a transparent and business-friendly atmosphere with streamlined taxes.
“We can confirm that we have received a tax reminder from the Tax Department that also references asset seizures in the event of non-payment,” a Vodafone spokesperson said on Tuesday.