If the vodafone case had a tax implication of just rs10 crore, the case would have been over before the income tax appellate tribunal itself and there would not even be a single comment in the . The supreme court today ruled in favour of vodafone in the $2 billion tax case saying capital gains tax is not applicable to the telecom major the income tax . Vodafone taxation case study per se resulted in income chargeable to tax in india vodafone’s petition and arguments: vodafone’s argument is that there is no . The business connection rule says if a non-resident earns and receives income abroad thanks to a business connection in india, he would have to pay tax in india pro tanto ie to the extent of business connection in india this applies squarely to the vodafone case because the cayman island company is a single charter company -- to control the .
So in the case of vodafone: indeed hutchison was the seller so he has to pay the capital gains tax but he doesn’t ‘actually’ pay it it is for the vodafone (buyer) to deduct that tax money from his payment and give the tax to indian government. Case study of vodafone india services (p) ltd vs union of india (bombay high court decision) introduction of case – vodafone india services (p) ltd is a wholly owned subsidiary of vodafone tele-services (india) holdings ltd, a non resident company mauritian entity. New delhi: days after vodafone approached the international court of justice seeking intervention in its rs 20,000-crore retrospective tax case, the government has decided to appeal against the decision of the bombay high court in a separate case that went in favour of the company the government .
Hence the income tax department did not have any right to levy tax on the ‘ offshore share sale’ of cgp by hutchison to vodafone 10 key pointers to watch out for in vodafone tax ruling. Executive summary this tax alert summarizes a recent ruling of the mumbai income tax appellate tribunal (itat) in the case of vodafone india services pvt ltd (vodafone. Sec 119 of income tax added lines like never before whatever the judgement of this case in any country we will impose tax on this evasionjudiciary favoured vodafone but govt nulify the judgement by making new section. This summary has been prepared to provide an overview of the key arguments presented by vodafone and income-tax department before the supreme court (upto september 29th to read the blow by blow account of each day’s proceedings.
The court overruled the order of income tax appellate tribunal issued last year transfer pricing case: vodafone gets relief from bombay hc the finance ministry will study the bombay high . 2 vodafone group tax and our total contribution to public finances 2014–15 contents 3 key facts and figures 4 introduction to the report 17 our contribution country by country. Vodafone tax case - a case study for investments in india legal articles from civitas legal solutions it is subject to capital gains tax under relevant income . Description vodafone's $2bn tax case summary of supreme court proceedings realtime taxsutra services pvt ltd in february, 2007 vodafone (through its netherlands entity) entered. Landmark international tax cases decided by indian judiciary - summary iv-521 the vodafone case of the income-tax act,.
Landmark supreme court verdict in the vodafone case the sc has also provided observations and decisions on various domestic and international tax issues . Vodafone tax case summary – must see – income tax forum good afternoon cci members from the time when the famous vodafone tax cases was adjudicated there has been this curiosity among the students of ca including me. In january, vodafone won a supreme court case against india’s tax authorities, the planned legal changes involve amendments to various clauses of india’s income tax act the budget .
The pwc tax case studies provide students with realistic fact situations in which a number of tax problems and opportunities can be identified the cases include prospective as well as completed business transactions, so that students can incorporate a certain amount of tax planning into their solutions. The i-t department has issued vodafone a reminder over its rs 14,200-crore tax demand and threatened to seize assets in the case of non-payment, a move the uk firm said shows disconnect with prime minister narendra modi’s promise of a tax-friendly environment the department on february 4 sent a . The vodafone tax case throws an interesting question on the taxability of a non resident company acquiring shares of a resident company through an indirect route this is a landmark case, as it is for the first time that the tax departments have sought to tax a company through a mechanism of tracing the source of acquisition. Summary of bombay high court decision in vodafone’s case high court in the case of vodafone the appellate commissioner and income tax appellate tribunal .
Sale of cgp share by htil to vodafone or vih does not amount to transfer of capital assets within the meaning of section 2 (14) of the income tax act and thereby all the rights and entitlements that flow from shareholder agreement etc that form integral part of share of cgp do not attract capital gains tax. In this current transfer pricing case, vodafone argued in the high court that the income tax department had no jurisdiction in this case because the transaction was not an international one and .
In may 2010, the tax authorities held that they had jurisdiction to proceed against vodafone for their alleged failure to withhold tax from payments made under section 201 of the income-tax act, 1961 (the act). The income tax department on wednesday said it will move the supreme court challenging the bombay high court's order in the rs 8,500-crore vodafone transfer pricing case. Vodafone tax case v/s arindam daschowdhury (pgdm 100109) deepak bs (pgdm 100110)16-08-2011.