ITAT grants conditional stay to Voda India Services in transfer pricing case
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Unlisted VISPL, formerly `3 Global Services Pvt Ltd’, which is liable to pay the sum and provide the guarantee, is likely to contest the tribunal ruling in a high court, a lawyer familiar with the matter, told ET.
Agencies
It also directed VISPL to “furnish a corporate guarantee from an associate company, which has unencumbered assets in India in excess of the balance disputed demands, i.e. Rs 900 crore”.
The Income Tax Appellate Tribunal (ITAT) on Monday granted a conditional stay to a Vodafone Group Plc entity Vodafone India Services Pvt Ltd (VISPL) in a transfer pricing case, directing the company to pay Rs 230 crore towards a disputed tax demand and provide a corporate guarantee from an associate company worth Rs 900 crore.
ITAT Directs Vodafone India to Pay Rs 230 Crore
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The taxing issue of making the tech giants pay their due - The Hindu BusinessLine
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Damage control: Govt mulls legal changes to settle Cairn tax issue
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Policymakers are worried about the wider ramifications of prolonged litigation with Cairn in multiple jurisdictions on India’s overall investment climate at a time when the government is seeking to woo investors.
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India may consider legal changes to create a mechanism to settle the high-profile tax dispute with British energy company Cairn, people aware of discussions told ET.
Talks have been held with Cairn on a possible settlement and, if needed, an amendment may be introduced in the budget, a government official said.
Policymakers are worried about the wider ramifications of prolonged litigation with Cairn in multiple jurisdictions on India’s overall investment climate at a time when the government is seeking to woo investors.