Rs 22,100-crore tax: Hague court backs Vodafone, govt eyes legal options

As per Finance Ministry sources, since Vodafone Group Plc had not paid the initial tax demand of Rs 7,900 crore and interest and penalty on it, the question of India paying back Rs 22,100 crore did not arise

IN A relief for Vodafone Group Plc, the Permanent Court of Arbitration at The Hague ruled Friday that India’s retrospective demand of Rs 22,100 crore as capital gains and withholding tax imposed on the telco for a 2007 deal was “in breach of the guarantee of fair and equitable treatment” that the company was entitled for its investments in the country’s mobile…