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.

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Comments Vodafone Income Tax Case Study Summary

  • Marketing strategy of Vodafone India Essay - 2429 Words.
    Reply

    Frequent tariff interventions and TRAI policies put pressure on its revenues. Vodafone still lags behind its major competitors in India. PEST Analysis Political Vodafone was embroiled in a $2.5 billion tax dispute with the Indian Income Tax Department over its purchase of Hutchison Essar Telecom services in April 2007.…

  • The Vodafone - Hutchison Case And Its Implications VCCircle
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    The recent sale of Hutchison Telecom International’s HTIL stake in Hutchison Essar Limited HEL for approximately $11.1 billion to Vodafone International Holdings BV Vodafone came under the radar of the Indian income tax authorities the IT Department earlier this year.…

  • Vodafone tax Payments Social Institutions
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    Vodafone tax case The tax dispute between The Indian Tax Authorities; and Vodafone in connection with taxability of the $ 11.2 billion Hutch-Vodafone deal is one of the biggest controversies in Indian history. The quantum of tax demand by the Indian Revenue Authorities in this particular case was around Rs.11,000 crore plus interest. Some Basic Terms…

  • India to change tax law after Vodafone case Financial Times
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    In January, Vodafone won a supreme court case against India’s tax authorities, which had spent years pursuing the UK-listed telecoms group for capital gains tax supposedly due on its $10.9bn.…

  • Vodafone-Hutch deal Retrospective change to I-T Act
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    In the Vodafone case, the apex court criticized the government on the loopholes in different laws and called for express provisions in the legislation to clamp down on tax avoidance.…

  • Why India Wants Vodafone to Pay $2 Billion in Taxes Fortune
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    India’s tax office has sent Vodafone a reminder to pay $2 billion in taxes and threatened the UK group with seizure of local assets if it fails to do so, despite the dispute being the subject of.…

  • Common law tax cases - facts of case Flashcards Quizlet
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    Common law tax cases - facts of case. Taxpayer were proprietors of a town and country club. In order to join the club, a membership had to be purchased. When purchasing membership from the club, the member also had to pay a fe, 15% of which was membership fee and 85% of which was an initiation deposit.…

  • TAX BY MANISH VODAFONE WINS IN SC
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    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.…

  • Supreme Court issues landmark judgment in Vodafone case.
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    Supreme Court issues landmark judgment in Vodafone case. The authority therefore initiated proceedings against Vodafone for a failure to deduct tax under Section 195 of the Income Tax Act 1961, seeking to recover $2.1 billion from Vodafone as alleged withholding tax liability.…

  • Vodafone Judgement Guide To Law Laid Down By The Supreme.
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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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