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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Transfer Pricing »
 Indian advance pricing agreement uses customs value as arm’s length price
 Indian advance pricing agreement uses customs value as arm’s length price
  How advance pricing agreement helps India-Singapore business ties
 Doing business in India: ‘Substance’ over ‘form’ in transfer pricing regime
 How advance pricing agreement helps India-Singapore business ties
  CBDT to accept transfer pricing MAP sans riders
 How transfer pricing documentation can make you a happier person
 Transfer pricing review and adjustments in Luxembourg
 Here is what Modi government can do for transfer pricing
 Transfer Pricing In International Transactions – An Overview
  Transfer pricing 2017 year-in-review

HC Order on Vodafone Transfer Pricing Being Analysed: CBDT
November, 10th 2014

The Central Board of Direct Taxes (CBDT) will give its views on the high court order on Vodafone transfer pricing case after studying the judgement, chairman K V Chowdary said today.

“We are examining transfer pricing issue at both the (Income Tax) commissioner and Central Board of Direct Taxes (CBDT) levels. We will take a view shortly,” he told reporters.

He said that all relevant issues would be considered and the department has also sought advice from the Law Ministry in the matter.

On Friday, the Bombay High Court ruled in favour of Vodafone, saying that the British telecom giant is not liable to pay Rs 3,200 crore demanded by the Income Tax department in a case related to transfer pricing.

The Income Tax department had charged Vodafone India additional income tax alleging that it had undervalued its shares in its subsidiary Vodafone India Services, while transferring them to its parent company in Britain. The transaction took place in FY2010.

Transfer pricing is the practice of arm’s length pricing for transactions between group companies based in different countries to ensure that a fair price — one that would have been charged to an unrelated party — is levied.

Since cases similar to Vodafone’s transfer pricing cases have come to the light, Chowdary said, “Existing cases will be treated as per relevant laws in existence while new ones related to transfer pricing will go to a specially constituted High Level Co-ordination Committee (HLCC)”.

As for the second case on Vodafone involving an Income Tax claim of USD 2 billion after a controversial amendment in the statute retrospectively, Chowdary said an arbitration is under way to arrive at a solution.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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