• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, July 9 The Bombay High Court concluded on Wednesday the hearing on the writ petition filed by Vodafone challenging the Income tax department’s move to tax the telecom major on its acquisition of Hutchison Essar.

While the judges have not declared the timing of the judgment, lawyers for both parties have been asked to depose their written submissions in the court.

“Due to time constraints, the hearings had to be compressed. However, we are satisfied with the quality of hearings we received from the court,” Mr Dinesh Kanabar, Executive Director at PricewaterhouseCoopers, and legal advisor to Vodafone, told reporters

The case is being keenly watched as the judgement could provide an answer to critical issues such as taxability of overseas transfers of shares with underlying value in India and the withholding tax obligations of non-residents.

Official from both camps pointed out they would go to the Supreme Court if the judgment were not in their favour.

More Stories on : Mergers & Acquisitions | Courts/Legal Issues | Telecommunications

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Deadline for RCom, MTN talks extended till July 21

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line