Vodafone to Challenge I-T Department’s Notice on Demand of Rs 14,000 Cr
Vodafone Group will challenge the Indian Income-Tax Department’s notice, alleging the U.K.-based telecom major had under priced its shares issued to a Mauritius—based group company by about Rs 1,300 crore. “As this latest order relates to a share subscription and share subscriptions are not covered by transfer pricing rules, either in India or internationally, we will be challenging the order as it has no basis in law,” a Vodafone spokesperson... Read More
