BackVodafone files plea in SC against tax notice
Vodafone files plea in SC against tax notice
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New Delhi: Vodafone said on Tuesday it had filed a petition in the Supreme Court seeking protection against a notice from the tax authorities starting penalty proceedings on the company related to a tax bill over a 2007 acquisition.
“It is difficult to understand the rationale behind the tax authorities seeking to impose penalties on a matter which the tax authorities have, themselves, described as a ‘test case’," Vodafone said in a statement.
Vodafone is contesting a $2.5 billion tax bill in India over its acquisition of a controlling stake in a mobile firm. It had earlier appealed to the Supreme Court challenging a lower court order that tax office had jurisdiction over tax bills in cross-border deals. The Supreme Court is scheduled to hear the case on 19 July.
“All the advice received by Vodafone during and since the acquisition is that there is no tax or therefore penalty that arises," Vodafone said in Tuesday’s statement, adding it would take all steps needed to defend itself.
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