Vodafone wins $2.50 billion tax case

Vodafone wins $2.50 billion tax case

In a 2.5 billion dollar sigh of relief for Vodafone, and for other companies eyeing assets in India,
the Supreme Court has ruled in favour of Vodafone. The court has said that the Indian tax department
cannot tax the transaction that saw Vodafone acquire 67 per cent stake in Hutchison Essar, a mobile
phone operator in India in 2007. The deal was for 55,000 crores or $ 11.5 billion.

In a 2.5 billion dollar sigh of relief for Vodafone, and for other companies eyeing assets in India,
the Supreme Court has ruled in favour of Vodafone. The court has said that the Indian tax departme.

Indian tax authorities have no territorial jurisdiction over genuine offshore transactions, says
Supreme Court .

Capital gains tax not applicable on Vodafone, it says.