Vodafone tax matter – the questions
before the Supreme Court
Indias tax authorities claim that capital gains tax is due on Vodafones acquisition of Hutchison Essar in 2007 for 10.9 billion U.S. dollars. Previously, t…
The Supreme Court judgment in the Vodafone case contends that the ‘corporate shroud’ can’t be penetrated as long as there was no [i]intention[/I] to maintain a strategic distance from taxes.[b] Rahul Varman[/B] on how and why partnerships in India figure out how to undermine the law and general society useful for the purpose of private benefit
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The case concerns an assessment debate between the Vodafone bunch and the Indian pay charge (IT) powers over the obtaining by Vodafone International Holdings BV (VIH) (some piece of the Vodafone gathering and an organization inhabitant for expense purposes in the Netherlands) of the whole impart capital of CGP Investments (Holdings) Ltd (an organization fused in Hong Kong yet occupant for duty purposes in the Cayman Islands) on February 11, 2007 for about $11 billion (Rs 55,000 crore) from Hutchison Telecommunications International Ltd (HTIL). CGP, through different middle of the road organizations/contractual plans, controlled 67% of Hutchison Essar Limited (HEL), an Indian organization.
