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Vodafone asks for more time in SC tax appeal after $2.5bn tax bill

The Supreme Court yesterday adjourned the hearing in Vodafone’s appeal against the 8 September Bombay High Court order to 15 November, following a Rs 11,218 crore tax liability notice served by the income tax department on the telecom giant on Friday.

Vodafone pleaded that it needed time to consider the tax liability computed by the department and asked the court to grant more time, The Hindu reported.

On 27 September, the Supreme Court had directed the income tax department to calculate the amount Vodafone was supposed to pay on the capital gains accrued from the 2007 Hutchison Essar’s acquisition in India by 25 October.

A Supreme Court bench comprising of Chief Justice SH Kapadia and justices KS Radhakrishnan and Swatantra Kumar considered the arguments advanced by senior advocate Harish Salve who asked for time to reply to the tax notice on behalf of Vodafone.

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