Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: ACCOUNTING STANDARD :: empanelment :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: VAT RATES :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: TDS
 
 
Transfer Pricing »
 The transfer pricing conflict is about profit shifting
 Transfer Pricing Compensating Adjustments: Another IRS Loss
 HMRC steps up inquiries into cross-border deals by big business
 An Overview of Transfer Pricing in China
 South Africa: transfer pricing record-keeping rules finalized
 India among the top three nations where transfer pricing policies faced official examination: EY Survey
 Vietnam publishes draft transfer pricing law to combat tax avoidance
 New transfer pricing documentation rules and fiscal assessment procedure in Finland
 India, US resolve tax disputes worth Rs 5,000 crore via APA
 India, UK sign three Advance Pricing Agreements
  Foreign Exchange Management (Insurance) Regulations, 2015

Bombay HC rules in favour of Vodafone in transfer pricing tax case
October, 08th 2015

The Bombay high court on Thursday ruled in favour of the Indian arm of Vodafone Group Plc in the Rs.8,500-crore transfer pricing tax dispute involving the sale of its call centre business to Hutchison and assignment of call options to Vodafone International BV in 2007-08.

The court overruled the order of the Income Tax Appellate Tribunal (ITAT) issued last year suggesting that the income tax (I-T) department has jurisdiction in this dispute. The I-T department’s draft transfer-pricing order was issued in December 2011.

Vodafone India Services Pvt. Ltd moved the high court in February 2012 challenging the jurisdiction of the tax department in issuing a transfer-pricing order that sought to add Rs.8,500 crore to its taxable income for 2007-2008.

Vodafone has maintained that the transaction is not an international transaction and so it does not attract tax. In 2013, the tax department had issued a demand notice of Rs.3,700 crore to Vodafone India in this case.

While ITAT stayed the tax demand in December 2013 for six months or till the plea is decided, it directed Vodafone India to deposit Rs.200 crore by 15 February. Vodafone India was also asked to provide corporate guarantees of Rs.3,500 crore. Vodafone has since deposited Rs.200 crore as per the ITAT order.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions