Bombay HC adjourns Vodafone transfer pricing case to 5 October
24 September 2012
Bombay High Court has adjourned the hearing of Vodafone India transfer pricing case to 5 October, when it is expected to pronounce its verdict.
The case relates to Rs8,500-crore transfer pricing case involving Vodafone India Services Pvt. Ltd and the income tax department.
In February, Vodafone had challenged the income tax department's jurisdiction in issuing a draft transfer pricing order. The department had sought Rs8,500 crore additional to the taxable income of Vodafone.
The draft transfer pricing order, issued in December 2011, related to transaction on Vodafone's call centre business.
The income-tax department's draft transfer pricing order, issued in December, related to a transaction on Vodafone's call centre business.
Indian companies pay 30 per cent tax on their income and a 3 per cent surcharge.