Vodafone Income Tax Case Study Summary

Vodafone Income Tax Case Study Summary-72
The 100 page Review Petition criticizes the judgment on multiple counts, especially the Supreme Court’s emphasis on the FDI aspect, the court’s views on Ramsay doctrine & Azadi Bachao vs Mc Dowell, its interpretation of Sec.9, reliance on a Direct Taxes Code provision which has not been enacted and which the Government argues is only an “exemption” provision and not meant to charge off-shore transfers and the Court’s remarks about the taxes paid by Vodafone Essar in India The few days, immediately after the landmark Vodafone judgment was pronounced, saw in-depth discussion and analysis of the ruling.

The 100 page Review Petition criticizes the judgment on multiple counts, especially the Supreme Court’s emphasis on the FDI aspect, the court’s views on Ramsay doctrine & Azadi Bachao vs Mc Dowell, its interpretation of Sec.

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A division bench of Justice Dr Chandrachud and Justice Devdhar passed a landmark, 196 pages ruling in tax department's favour, decisively holding that " The income accrued and arose and was derived as a consequence of the divestment of HTIL’s interest in India.

Vodafone Income Tax Case Study Summary

" However it still led to quite a bit of confusion and is now famously referred to as 'A B ' theory.Finance Bill 2012 proposes to introduce retrospective amendments to Sec 9, clarifying that indirect transfers were always within its ambit.It also proposes to introduce a Validation Clause that will enable the tax authorities to issue a fresh demand notice to Vodafone, notwithstanding the SC ruling.uses cookies to personalize content, tailor ads and improve the user experience. By using our site, you agree to our collection of information through the use of cookies. Will the apex court finally settle the age old ' tax planning vs tax avoidance' debate?analyses the key Indian and foreign case laws being relied upon by both parties.The key learning outcomes are: understanding various types of political risks faced by multinationals; assessing the political risks involved in foreign investments; and appreciating the possible mitigating strategies to handle such risks. MUMBAI: India's income tax authorities have demanded over Rs 32,300 crore from Hutchison Holdings in taxes, interest and penalty on the alleged gains the Hong Kong company made by selling its Indian mobile phone business to Vodafone Group Plc back in 2007, for about billion.7,900 odd crores, it is waiver of the interest amount ( over Rs. Arun Giri, Editor, (with inputs from Ameya Kunte), analyses the options on the table before Finance Ministry which could be positioned as a 'Win Win' for both the Government and Vodafone.The Union Budget, announced on March 16, 2012 has dampened Vodafone's jubilation after its victory in the Supreme Court.


Comments Vodafone Income Tax Case Study Summary

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    The basis of taxation is profits or income or receipt. In a case of tax on transfer of a capital asset as opposed to a case of tax on profits arising from business operations, one has to see the conditions in which the tax becomes payable under the Act.…

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