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20-01-2012, 05:14 PM #1
Vodafone-Hutchison deal: Vodafone wins Rs 11,000 crore tax case
NEW DELHI: In a major victory to Vodafone International Holdings, the Supreme Court on Friday set aside the Bombay high court judgement asking the company to pay income tax of Rs 11,000 crore, holding that tax authorities do not have jurisdiction on an overseas transaction.
A three-judge bench headed by Chief Justice S H Kapadia held that the IT department has "no jurisdiction" to levy tax on overseas transaction between companies incorporated outside India.
Justice K S Radhakrishnan, who wrote a separate judgement, concurred with the findings of the Chief Justice and Justice Swatanter Kumar saying the companies (Vodafone and Hutchison) are incorporated outside and their transaction outside India has "no underlying nexus" with tax authority here.
"Vodafone has no obligation under section 163 clause 1 (c) of Income Tax Act," Justice Radhakrishnan said.
The court asked the IT department to return Rs 2,500 crore deposited by Vodafone, in compliance of its interim order, within two months along with 4 per cent interest from the date of withdrawal of the money by the tax department.
Source: Vodafone-Hutchison deal: Vodafone wins Rs 11,000 crore tax case - The Times of India
Comments:
Originally Posted by Sudarshan
Now the IT will harass the common man to recover the 11000 crores to meet targets and pressure from these same linked Government. Ultimately as always, we have to bear the brunt and all the tops get away with everything in our Bharat Mahan.
Originally Posted by CJ Pankaj Sharma
pay 2000 crores to chidambrum and win the case. is it not obvious people? or do you all think rss is involved? and saffron terror is destroying the nation?Loss of 11k crores to the exchequer for country's image management.
Originally Posted by Sachin
Originally Posted by dj
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24-06-2012, 08:39 AM #2Right Off the Assembly Line
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Re: Vodafone-Hutchison deal: Vodafone wins Rs 11,000 crore tax case
Hey friends...
Got an interesting thing to ask you all...
Is it viable to ask for taxes to any individual for any of the deal made six years back for which no kind of taxes exist at that time... At number of places we are making efforts to attract foreign investors at we blow their hard driven trust by making such kind of non justice to them... Isn't it incorrect for our International image...???
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25-06-2012, 07:46 AM #3
Re: Vodafone-Hutchison deal: Vodafone wins Rs 11,000 crore tax case
No one want to pay TAX to Indian Govt.
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