Vodafone moved the Supreme Court challenging the Bombay High Court’s ruling that it has to pay tax amounting to close to Rs.12,000 crore for acquiring stake of Hutch in its India operations.
"Vodafone remains convinced that there is no tax to pay on the Hutchison transaction and we will continue to defend this position vigorously," Vodafone Group Plc spokesperson said in a statement.
The Bombay High Court had last week dismissed Vodafone International's petition challenging the Indian tax authorities demand of Rs 12,000 crore in tax over the Hutchison deal.
The High Court division bench held that I-T had the jurisdiction to tax the transaction. It, however, gave liberty to Vodafone to argue before the tax department that no penalty should be imposed as they genuinely believed they had no liability to deduct tax at source.
"Vodafone has filed an appeal with the Supreme Court in India today. The appeal challenges the recent High Court judgement on the issue of jurisdiction," the company statement said. |