The Income Tax (I-T) has filed a caveat against Vodafone in the Bombay High Court notifying the firm to pay for the tax on the deal completed with Hutchison towards acquiring its stake in Indian JV with Essar.
According to the I-T Dept, Vodafone is liable to pay $ 2 billion for the $ 11.2 billion buyout of stake.
"We have filed a caveat in Bombay High Court yesterday. This was done to exercise the Income Tax department's right to be heard, before the court can come to any conclusion," a Finance Ministry source told PTI. |