Vodafone enters second slugfest with Income Tax department

British telecom giant Vodafone's Indian tax woes have not ended with the recent Supreme Court verdict which ruled that Indian revenue authorities had no jurisdiction over the $11-billion cross-border deal between Vodafone and Hutchison struck in 2007. Facing a separate transfer pricing order from the income tax department that proposes to add nearly Rs 8500 crores to its income from Indian operations, Vodafone has challenged the order at the dispute resolution panel or DRP. ET NOW was the first to report the development.

Source: Economic Times