The decision is a defeat for India’s income tax department, which spent five years pursuing the UK-listed group for capital gains tax it claimed was due following Vodafone’s $10.9bn acquisition of Hutchison Essar in 2007.
Friday, 20 January 2012
Vodafone wins India tax case
India’s supreme court today found in favour of Vodafone in a landmark case that had threatened to land the telecoms business with a $2.9bn tax bill and put a further dent in India’s faltering investment climate.
The decision is a defeat for India’s income tax department, which spent five years pursuing the UK-listed group for capital gains tax it claimed was due following Vodafone’s $10.9bn acquisition of Hutchison Essar in 2007.
The decision is a defeat for India’s income tax department, which spent five years pursuing the UK-listed group for capital gains tax it claimed was due following Vodafone’s $10.9bn acquisition of Hutchison Essar in 2007.
Subscribe to:
Post Comments (Atom)
Visit us
No comments:
Post a Comment