Supreme Court says Vodafone must pay up in Rs. 12,000 crore tax case
By ANIMonday, September 27, 2010
NEW DELHI - The Supreme Court on Monday refused to grant relief to Vodafone in the Rs 12,000 crore tax case.
While refusing to stay the Bombay High Court order, the apex court issued notices to the tax authorities directing them to decide within four weeks the liabilities of Vodafone.
The next hearing of the case will be on October 25.
Vodafone had challenged the Bombay High Court order allowing the government to tax the company’s 11 billion US dollar deal with Hong Kong-based Hutchison in 2007.
The income tax department has held Vodafone liable for not deducting tax at source from payment made to Hutchison and claimed around Rs12, 000 crore in tax and penalty in the 2007 deal. (ANI)
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