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Vodafone transfer pricing case: Tax dept may not lose hope
December, 31st 2014
The transfer pricing department has sought clarity from the government on legal recourse in the Vodafone transfer pricing case. Sources have indicated that the department has written to the Central Board of Direct Taxes (CBDT), as it faces ambiguity over transfer pricing adjustments for subsequent years on Vodafone India services.
The transfer pricing department is yet to make adjustments on share issuances by Vodafone India services to Vodafone Teleservices Mauritius for assessment year 2011 and 2012. However, the transfer pricing officer can raise additions to tax demand on Vodafone India before it gets time barred by January 31, 2015.
Although it is unlikely that the government will take an adverse decision and file a special leave petition in the Supreme Court against the Bombay High Court's order, the transfer pricing department wants the government to clear the air, as the Bombay High Court's ruling that was in favour of Vodafone will be binding on all subsequent transfer pricing orders if the tax department chooses not appeal.
