Results 1 to 1 of 1
  1. #1
    Runner Up - Admins Awards www.desirulez.net
    Join Date
    Dec 2009
    Posts
    24,894

    Default Vodafone ignored IT Dept advice

    Follow us on Social Media





    The Finance Ministry, on Wednesday, sought to reiterate yet again that it was the British telecom major Vodafone that “chose to ignore” the tax department's advice on chargeability of its Hutchison stake acquisition deal to tax in India.

    In a rebuttal to reports in a section of the media which implied that Vodafone was not warned by the Income-Tax Department of the tax burden that the transaction would entail, the Central Board of Direct Taxes (CBDT) in a statement said: “…Vodafone cannot say that it had received no communication from the tax department, about the chargeability of the transaction to tax in India. Further, it chose to ignore the advice, received before the conclusion of the transaction, that Vodafone or HTIL should approach the assessing officer under Sec. 195/197 of the Income-tax Act, 1961, for determining the exact tax liability in India”.

    The CBDT also went on to point out that all the correspondence in this regard between the tax authorities and Vodafone, including its entities, “are part of the Court records and are thus in the public domain”.
    ...being a human...



 

 

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •