Vodafone moves apex court on tax issue

Telecom giant Vodafone has moved the Supreme Court challenging the Bombay High Court judgement that upheld the I-T department’s showcause notice asking it to pay tax of about $2 billion over its acquisition of Hutchison. The Bombay HC on December 3 last year dismissed a petition by Vodafone International Holdings BV challenging a showcause notice by the I-T department. The company had bought a 67 per cent stake in Hutchison Essar from Hutchison Telecom International (HTIL) in February 2007 by paying $11.2 billion.