Vodafone Group is planning to settle the dispute over retrospective application of tax on transfer of assets, following the Indian government moving to scrap the provision, four people close to the development told ET.
Vodafone retro tax case: All you need to know
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Last Updated: Dec 25, 2020, 09:02 AM IST
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Reuters
Vodafone International Holdings BV bought the stake of Hutchison Telecommunications International Ltd in Hutchison Essar
Deal between companies based overseas; executed in Cayman Islands
OCT 30, 2009: Income tax dept served notice to Vodafone International Holdings
Notice under Sections 201 and 201 (1A) of the Income Tax Act for non-deduction of tax at source on the $11.2 bn transaction
OCT 30, 2010: IT Dept ordered Vodafone to furnish Rs 11,218 cr under Sections 201 and 201(1A).
APR 29, 2011: Rs 7,900 cr penalty was imposed
LITIGATION
SEPT 8, 2010: The Bombay High Court upheld the tax authorities decision. Dept raised tax demand in the subsequent month
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Govt Challenges Vodafone Arbitration Ruling in Singapore Court: Report
A man speaks on his mobile phone as he walks past logos of Vodafone painted on a roadside wall in Kolkata. (Reuters)
India has challenged in Singapore an international arbitration court s verdict against it over a $2 billion tax claim involving Vodafone Group Plc, a senior government official told Reuters on Thursday on condition of anonymity.
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India has challenged in Singapore an international arbitration court’s verdict against it over a $2 billion tax claim involving Vodafone Group Plc, a senior government official told Reuters on Thursday on condition of anonymity.