In a major setback to Vodafone, the Supreme Court has refused to intervene in the tax claim case of about $2 billion. Vodafone had approached the Supreme Court against a Bombay High Court judgement which, on December 3, 2008, dismissed a petition by Voda
January 15, 2009
In a major setback to Vodafone, the Supreme Court has refused to intervene in the tax claim case of about $2 billion. Vodafone had approached the Supreme Court against a Bombay High Court judgement which, on December 3, 2008, dismissed a petition by Vodafone International Holdings BV, contesting a show-cause notice by the Income Tax (IT) Department. The IT Department had asked the operator to pay $1.7 billion as capital gains tax for its acquisition of stake in Hutchison Essar (now Vodafone Essar) through a show-cause notice filed on September 19, 2007.
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