Tax - News .com: Indian Court lifted Vodafone case

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Indian Court lifted Vodafone Case by Mary Swire, tax - News .com, Hong Kong
Last updated 3 hours ago |26 October 2010

The Supreme Court has adjourned hearing of the case of tax against Vodafone to 15 November, after Headquarters British Telecommunications Group has requested more time to examine INR112bn (USD2.5bn) tax notice sent by the Department of tax revenu.La application includes tax and interest for 42 months.

Vodafone International Holdings BV has 30 days to comply with the notice, according to a statement of the Central the direct.Vodafone tax Commission is liable to tax, the tax Department claimed capital gains, ought to be paid when it was purchased network GSM Indians of Hutchison Whampoa?s in 2007 in a series of purchases of the offshore company.

Commentators have suggested that view of the High Court of the Taxability of Vodafone expressed on September 8, is that as the buyer, it would be responsible insofar as attributable to India assets income, then the tax Department had based its request on the integer value of the agreement, without any distribution.

Vodafone continues to believe that she has no India responsibility whatsoever.

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