CURRENT AFFAIRS

Detailed explanation-1: -“This was a unanimous decision, including India’s appointed arbitrator Rodrigo Oreamuno. The tribunal held that any attempt by India to enforce the tax demand would be a violation of India’s international law obligations, ” a Vodafone Group spokesperson told BusinessLine in an email reply.

Detailed explanation-2: -Carlsberg Wins International Arbitration Case Against India Jv Partner.

Detailed explanation-3: -Vodafone Wins International Arbitration Against India in $2 Billion Tax Dispute Case. The tribunal ruled that the government’s imposition of a tax liability on Vodafone is in breach of the investment treaty agreement between India and the Netherland.

Detailed explanation-4: -So, in 2007 itself a show cause notice was given to Vodafone by the Income Tax Department to clarify the reason why tax should not be paid in India as the transfer of shares in CGP had an impact of aberrant or indirect transfer of assets in India.

Detailed explanation-5: -This amendment allowed tax authorities to retrospectively tax transactions, including that of Vodafone’s stake in HEL. Subsequently, tax authorities claimed 200 billion rupees in respect of taxes on capital gains, including interest and certain penalties from Vodafone.