From a ITE formula $\phi$, you can compute polynomially a reduced assignment list to describe all valuations which makes it true.
To do that, just look at your formula as a tree with nodes labeled by variables and leaves by $0$ and $1$. Left branches are the "then" part setting the variable to true and right branches are the "else" part setting it to false. Each branch leading to a leave $1$ will be labeled by a set of partial variables assignement, for instance $\{x,\overline{y},z\}$. Computing the list of all these sets from your formula is polynomial. You can then compute a normal form of this list by removing a set if it is contained in an other one, and merging sets that differ on a variable: if $\{x,\overline{y},z\}$ and $\{x,y,z\}$ are in your list, you remove them and add $\{x,z\}$, meaning that it works no matter the value of $y$.
However, if you have $\{x,\overline{y},z,t\}$ and $\{x,y,z\}$, you cannot merge them and keep them like this.
You apply these rules until you stabilize, once again this procedure is polynomial.
Finally, choose an arbitrary ordering on variables $\{x_1,\dots,x_n\}$, and call $i$ the weight of $x_i$. The weight of a list is the sum of all weights appearing in it (with multiplicites). Apply "rotations" everytime it is possible, in order to minimize the total weight of your normal form. A rotation changes $\{\vec x,x_i,x_j\},\{\vec x,\overline{x_j}\}$ to $\{\vec x,x_i\},\{\vec x,\overline{x_i},\overline{x_j}\}$ with $i<j$ ($\vec x$ is a list, and $x_i$ and $x_j$ can also be negated variables). We can see that it makes the total weight decrease by $j-i$. Hopefully now the normal form is unique, I'll try a formal proof later.
Then, two formulas are equivalent iff they have the same normal form list of assignments.
So your problem seems to be in $P$.