Once again Supreme Court slapped government on Tuesday by dismissing its petition to review of Court’s verdict in the Vodafone-Hutch tax case.
Last month, tax authorities had filed review plea in Court to consider its judgment that had ruled in favour of Vodafone in January in tax case of $11 billion deal to buy Hutchison Whampoa Ltd’s Indian mobile business.
In its application, the government wrote that SC ruling had error in its findings of Vodafone’s offshore transaction, providing company a 67% stake in Hutch-Essar was bona fide structured FDI in India that the effect of legitimising transactions through the tax havens.
