Vodafone drags I-T to court over tax claim!!!

Vodafone Essar has filed a writ petition in the Bombay High Court challenging the right of the tax authorities to levy a capital gains tax on it. The writ is aimed at preventing the income-tax department from taking further action. The I-T department had issued a showcause notice to Vodafone Essar as to why it (Vodafone Essar) should not be treated as an agent of Hutchison International. Hutchison International had sold a majority stake in Hutchison Essar to Vodafone for $11.2 billion. Hutchiso

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CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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