  Vodafone on Friday said that Supreme Court had clearly and unambiguously ruled that there was no tax to pay on the Vodafone-Hutchison transaction. The company said this in response to filing of review petition by tax authorities.
“Vodafone notes the filing of the tax authority's review petition, which will be evaluated by the same Bench that ruled on the Vodafone-Hutchison case,” the company statement said.
According to the analysts the apex court verdict in favour of Vodafone could have a bearing on other pending tax disputes such as deals related to the AT&T-Tata Group in Idea Cellular and Sanofi-Aventis.
The analysts also feel that the review petition is only a desperate attempt by the government to salvage its prestige as the stakes for it are very high. |