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New Delhi, Sep 25: Telecom giant Vodafone on Friday won an international arbitration case against the Indian government in a Rs 20,000 crore retrospective tax dispute.
An international court in Singapore ruled that the Indian government’s imposition of tax liability on Vodafone is in breach of the investment treaty agreement between India and the Netherlands, reports Reuters.
Vodafone had challenged India using a 2012 legislation that gave it powers to retrospective tax deals like Vodafone’s USD 11-billion acquisition of 67 per cent stake in the mobile phone business owned by Hutchison Whampoa in 2007.
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