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Bombay HC Provides Breather To Vodafone

Published on Fri, Oct 17,2014 | 13:34, Updated at Fri, Oct 17 at 13:34Source : 

Recently, a long standing dispute between Vodafone and the tax authorities has been put to rest by the Bombay High Court (HC). The HC, in its landmark judgment in the case of Vodafone India Services Pvt. Ltd. v Union of India and Others (Writ Petition No 871 of 2014), has ruled in favor of Vodafone and held that a transaction of ‘issue of shares’ at a premium does not give rise to any ‘income’, and therefore, would not be subject to the provisions of the Indian Transfer Pricing Regulations (TP Regulations). Similar cases relating to other multi-national companies operating in India are currently pending before various forums in the country, and this judgment may have a bearing on deciding the fate of such pending cases. For more please read the attached report by Khaitan & Co.

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Attachments : Vodafone-BombayHCTaxteamcomments-KCO-ERGONewsflash.pdf

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