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31 January 2012

Andre Jerome Exclusive: “I don’t wish it on my worst enemy, and it’s not just a question of wanting to keep the record for myself,” jokes Andre Jerome about whether he’s ever likely to see a comparable case.

It is surprising that Jerome still has a sense of humour about it - as general counsel (GC) of Vodafone India Services Private Limited, he was literally at the beginning, middle and end of the storm surrounding its four-year court battle with the tax man.

24 January 2012

Economic Laws Practice (ELP) and Nishith Desai Associates (NDA) analysed the legal implications of the Vodafone judgment yesterday – a decision law firms across the board commended for boosting India’s image as an investment destination, upholding the rule of law and settling many questions.

20 January 2012

Breaking: Vodafone has been cleared by the Supreme Court of its $2.4bn tax case, according to authoritative Twitter and early news reports.

27 July 2011

- The epic Vodafone tax case to hit Supreme Court in two weeks, Voda AGM told [totaltelecom]

- Tata Nano land judge recuses self after 15 hearings on personal grounds, Justice I P Mukherjee takes over [TOI]

- SC rejects Dinakaran WP, allows Forum for Judicial Accountability to passively monitor Dinakaran proceedings and assist counsel [The Hindu]

- Himachal district court move to Rs 25 cr judicial complex delayed by HC [Indian Express]

- 2G Raja continues offensive: after PM and home min, now points finger at AG Vahanvati [TOI]

- CBI threatened by alleged Dara Singh fake encounter cops, seek witness protection [Indian Express]

30 March 2011

Exclusive: The Authority for Advance Rulings (income tax) has pronounced an order in favour of former Tata-Quippo shareholder DBZ Mauritius, which is contrary to the Bombay High Court’s view in the Vodafone-Essar tax case.

15 December 2010

The Supreme Court has demanded a one per cent commission on the Government’s withdrawal of the Rs 2,500 crore deposited earlier in the court by Vodafone as a prerequisite to hearing the appeals against the Bombay High Court’s verdict, reported the Times of India.

26 October 2010

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.

15 October 2010

Vodafone has filed a writ petition in the Bombay High Court challenging an apparent decision by the tax office to treat the company as the agent of the seller in the 2007 Hutchison acquisition, despite the Supreme Court still having to reach a decision on Vodafone’s appeal against the earlier ruling.

27 September 2010

The Supreme Court declined to stay the Bombay High Court judgment against Vodafone of 8 September, giving the Indian tax department four weeks to decide how much Vodafone will have to pay in taxes on its purchase of Hutchison Whampoa’s Indian telecoms subsidiary, reported Bloomberg today. Vodafone may have to pay part of the amount the tax authorities decide on as the next apex court hearing has been fixed for 25 October. The total tax liability could be $2.6bn in a case that could cast doubt also on cross-border takeover tax structures.

14 September 2010

Vodafone has filed its appeal to the Supreme Court challenging last week’s Bombay High Court order that said the Indian tax authorities could charge Indian tax on its $11bn acquisition of Hutchison Essar in 2007.

Vodafone released a statement today saying that the company remained “convinced that there is no tax to pay on the Hutchison transaction” and would “continue to defend this position vigorously”, according to the Times of India.

The Bombay High Court had left open the option of an appeal, which was to be made within 12 weeks. The court also ruled that the tax authorities would not be able to make a final decision in the matter until eight weeks from the date of judgment last week (8 September).

09 September 2010

Following yesterday’s Bombay High Court victory against Vodafone and Hutchison in their potentially $2bn tax bill appeal, the Income Tax Department’s acting chairman Sudhir Chandra told the Business Standard: “[Income Tax] Department's position stands vindicated. It is a clear cut case of deliberate non-compliance to law on misplaced legal advice. This [Vodafone case] is a test case, we will look at similar cases. There are already some cases under investigation.

Full article at Business Standard.

09 September 2010

bombay-high-court-oval Yesterday's Bombay High Court decision that the tax authorities are permitted to assess Vodafone for its Indian tax liability in its acquisition of Hutchison Whampoa in 2007, means that previous and future foreign investments into India would face legal uncertainty, according to tax and corporate lawyers.

08 September 2010

vodafone-by-SudhamshuThe Bombay High Court has held that the Indian tax authorities were correct in assessing Vodafone for its Indian tax liability in the $11bn acquisition of Hutchison Essar.

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