Supreme court ruling on higher pension benefit to employees under the employees pension scheme, 1995 5 april 2019 the kerala high court3 had set aside the notification and held that any employee who is a member of the epf may avail of the option to contribute towards eps on a higher salary and thereby, become eligible for a higher monthly. The supreme court there were two judgments delivered in the supreme court. Applicability of section 9 income deemed to accrue or arise in india sec. Pdf a goal of transfer pricing may be to maximize after tax revenue besides reduction in the total tax paid. Analysis vodafones supreme court victory in india speed read the supreme court of india has overturned the decision of the bombay high court in the vodafone case, and has found that indian capital gains. However, the supreme court noted that vodafone could approach the high court if it was ruled against. Bse limited phiroze jeejeebhoy towers, dalal street, mumbai 400 001 yesterday i. The muchawaited judgment delivered by the bombay high court on sep tember 8, 2010, in the case of vodafone international. The supreme court s judgement thursday backing the governments definition of adjusted gross revenue agr may hasten further consolidation, paving the way for a twooperator telecom market, comprising reliance jio and bharti airtel, with vodafone idea s very survival at stake, analysts said. On october 24, the supreme court delivered a significant judgment in relation to the licensing agreement between telecom companies and the department of telecom dot.
Roberts, commissioner of revenue state of tennessee, defendantappellee no. Owing to this judgment, a total of about rs 92,000 crores were to be paid by the service providers, cumulatively, to the government. In deciding for vih, the supreme court restored muchneeded clarity. The blog has discussed the vodafone controversy in some detail, and commented on important extracts from the bombay high courts judgment yesterday. The supreme court accepted that tax laws were subject to the discipline of part iii of the. From the outset, by ruling that the indian tax authorities have no jurisdiction in the case, the supreme court has held that transfers of. On february 27, 2020, the italian supreme court fully upheld a judgment of the milan court of appeals, which had dismissed the damages claim of uno communications s. Roberts, commissioner of revenue, state of tennessee appeal by permission from the court of appeals, middle section chancery court for davidson county no. Vodafone has maintained throughout this litigation, a straightforward application of the standard apportionment formula 2014 stt 16625 vodafone asks tennessee supreme court to hear alternative apportionment dispute. The tax authorities are likely to challenge the decision in the supreme court. Kapadia with whom swatanter kumar j agreed, and a concurring but much longer judgment of k.
High court judgment template courts and tribunals judiciary. M200947scr1 1cv on appeal by permission from the judgment of the court of appeals. The supreme court judgment in the 08x numbers appeal 1. September 2010 the bombay high court dismissed vodafones writ petition against the order of the tax authorities. The judgment highlights that the hutchinson transaction in which vodafone acquired a single share of an htil subsidiary was a valid structural transaction and the indian authorities had no jurisdiction to tax such an offshore transaction. The supreme court verdict allowing the centre to recover rs 92,641 crore in total adjusted gross revenue from telecom operators in india is a massive blow to bharti airtel and vodafone idea ltd, kotak securities has said. Rules and guidance supreme court of the united states.
The supreme court admitted the slp and directed vodafone to deposit rs. The supreme court verdict allowing the centre to recover rs 92,641 crore in total adjusted gross revenue agr from telecom operators in india is a massive blow to bharti airtel and vodafone idea ltd, kotak securities has said. Vodafone essar gujarat ltd gujarat high court full bench by way of culmination of above judicial pronouncements and statutory provisions, the situation that arises is that prior to the introduction of clausei to the explanation to section 115jb, as held by the supreme court in case of hcl comnet systems and services ltd. What supreme courts judgement on applicability of pf. The supreme court judgment on 20 january 2012, following an 11week hearing in late 2011, the supreme court found unanimously in. The revenue or the court must look at a document or a transaction in a context to which it properly belongs to. The supreme court of india after hearing the matter for over two months, has delivered its much awaited landmark 275page decision, involving taxability of a transaction between two nonresident companies having no presence in india, in relation to transfer of shares of an overseas company, in favour of vodafone international bv vih to hold that the transaction is not taxable in india and. The supreme court of india pronounced the landmark judgment in vodafone international holding vih v. In the supreme court of tennessee at nashville june 2, 2015. Vodafone international bv dutch company assessee cgp investments seller buyer. In a landmark ruling in the supreme court today, vodafone won against the tax department. It is hoped that the government will respect and accept. The supreme court judgment in the 08x numbers appeal. Hutchisonessar ltd hel to form vodafone india in 2007, the company clutched south.
There were also issues about some of the criteria for granting them. An analysis of the supreme courts judgment in vodafone. Following the supreme court sc judgment in january 2012. Jiohit bharti airtel, vodafone idea q2 loss singe indian. Pdf transfer pricinga case study of vodafone researchgate.
In october last year, vodafone won a transfer pricing case having an. The supreme courts vodafone judgment is a momentous decision not only for india but also for a large number of foreign investors anxious to be a part of indias growth story. In our post on the judgment of the bombay high court, we expressed the hope that the supreme court would take a different view. Jan 21, 2012 the supreme court of india after hearing the matter for over two months, has delivered its much awaited landmark 275page decision, involving taxability of a transaction between two nonresident companies having no presence in india, in relation to transfer of shares of an overseas company, in favour of vodafone international bv vih to hold that the transaction is not taxable in india and. Nov 14, 2017 prior to supreme court ruling on vodafone, there was a sense of cynicism among the global investors on the approach adopted by revenue authorities in india and this ruling has nullified some of. Rajan was a final year student at the region engineering college, calicut. Judgment of the high court of delhi restraining the claimant from proceeding with its arbitration claim.
The decision of the indian supreme court in vodafone and indias proposed retrospective counteracting legislation. In one of the most high profile cross border tax litigation involving taxability of a. Vodafone further claims that owing to this judgment, the company is on the brink of financial insolvency and the judgment would. Harish salve, learned senior counsel for defendants clarified that the defendants did not, by their appearance in court, accede to the jurisdiction of indian courts generally or this court in particular, and had entered appearance without prejudice to their rights and contentions. Radha krishnan and swatanter kumar quashed the order of high court of demand of rs 12000 crores as capital gain tax and absolved vih from liability of payment of rs 12000 crores as capital gain tax in the. Landmark supreme court verdict in the vodafone case. It said that post the adverse sc order in the longstanding agr case, airtel and the combined entity of. The court of appeal upheld the decision of arnold j on.
Rules of the supreme court effective july 1, 2019 pdf summary of 2019 rules changes pdf historical rules of the supreme court. In its judgment, the court accepted the interpretation given to adjusted gross revenue by the dot and ruled against the telecom companies. Supreme court issues landmark judgment in vodafone case. High court judgment dated 8th september 2010 in the tax liability matter of. In this landmark judgment, the supreme court declared that the rights of citizens to move the court for violation of articles 14, 21 and. Following the supreme court judgment on the agr matter, the company has recognised a charge of rs25,677. Vihbv appealed this ruling to the indian supreme court. This court has therefore had to consider a large volume of caselaw, culminating in the judgment of lloyd lj in the court of appeal in these appeals. It said that post the adverse sc order in the longstanding agr case, airtel and the combined entity of vodafone idea are liable to pay rs 21,700 crore and rs. That the court has now done so has been welcomed as much needed respite in bad times. In the vodafone 2 decision published today the court of appeal overturned the high court decision, which had found that the uks controlled foreign companies cfc legislation was ineffective. The supreme court of india recently issued a landmark judgment in the muchawaited vodafone case.
Receive free daily summaries of new opinions from the montana supreme court. It is not in dispute that assessees were assessed under the said provision which. Guide to law laid down by the supreme court in vodafone international holdings b. Pursuant to the mumbai high court hc double bench judgment of september 8, 2010 dismissing the petition of. Vodafone wins transfer pricing tax dispute case the hindu. The judges could not conclude the transaction to be a sham, set up to avoid taxes. Commerce commission v vodafone new zealand limited and telecom new zealand limited. After hearing the learned counsel for the petitioner and the learned solicitor general of india, this court by judgment dt. The supreme courts judgement thursday backing the governments definition of adjusted gross revenue may hasten further consolidation, paving the way for a twooperator telecom market, comprising reliance jio and bharti airtel, with vodafone idea s very survival at stake, analysts said. The court of appeal held that the cfc legislation can be interpreted so as to be compatible with the ec treaty. There was a major issue in the courts below about the jurisdiction of the court to make such an injunction under the general power conferred on the court by section 371 of the senior courts act 1981. The decision of the indian supreme court in vodafone and indias proposed retrospective counteracting legislation summary on 20 january 2012 the indian supreme court found that india had no basis to tax the sale by a nonindian subsidiary of indirect interests in an indian telecoms company, hutchison essar.
As the court explained a courts decision must always bind unless the conditions. Analysis vodafones supreme court victory in india speed read the supreme court of india has overturned the decision of the bombay high court in the vodafone case, and has found that indian capital gains tax did not arise on an indirect transfer of shares in an indian company. In its dispute referral, gamma referred to the supreme ourts judgment in the i8x numbers appeal1 but noted that judgment was of limited relevance given it related to the application of ofcoms dispute resolution powers in a situation where there were no specific regulatory. The supreme court of india after hearing the matter for over two months, has delivered its much awaited landmark 275page decision, involving taxability of a transaction between two nonresident companies having no presence in india, in relation to transfer of shares of an overseas company. The bombay high court quashes tax officers order denying. Cnbc tv18s payaswini upadhyay gets quick reactions from experts on what this ruling means for foreign investment in india.
Vodafone filed special leave petition slp before the honourable supreme court of india. This post discusses parts of the judgment in more detail, and suggests, with respect, that the judgment is incorrect. Vodafone idea limited idea 532822 we write further to our communication of 16 march 2020. The supreme court sc on february 28, 2019, delivered a judgement disposing off multiple appeals on whether the special allowances paid by an establishment to their employees would form part of. The impugned judgment of the high court is set aside. Vodafone ruling supreme court shows the way the hindu. For the convenience of our readers, the paragraph number in question is indicated in. Analysis of the vodafone supreme court order in a landmark judgment passed on 20th january 2012, a three judge bench of the supreme court comprising of chief justice of india honble justice s.
Radhakrishnan vide 2 concurring judgments, set aside the controversial bombay. Even more importantly, it is heartening that the court has taken what it is submitted is the correct. Oct 25, 2019 the supreme court s judgement thursday backing the governments definition of adjusted gross revenue agr may hasten further consolidation, paving the way for a twooperator telecom market, comprising reliance jio and bharti airtel, with vodafone idea s very survival at stake, analysts said. The bombay high court in its decision of december 3, 2008, dismissed vodafones writ petition on the grounds of nonmaintainability. The supreme court of india rules in favor of vodafone in a. Ringing in the vodafone judgment introduction a precedentsetting case which will lead to a potential impact on crossborder mergers and acquisition activity in india is vodafone v. Relying on the observation of the supreme court in the case of vodafone international holdings b. Even more importantly, it is heartening that the court has taken what it is submitted is the correct view especially on the facts of vodafones case. Cartier international ag and others respondents v british. In the supreme court of tennessee at nashville june 2, 2015 session vodafone americas holdings, inc. Vodafone then filed a special leave petition slp before the supreme court under article 6 of the constitution of india against the decision of the bombay high court. Cit supreme court section 44bb starts with nonobstante clause, and the formula contained therein for computation of income is to be applied irrespective of the provisions of sections 28 to 41 and sections 43 and 43a of the act. Uoi the supreme court has laid down several important and farreaching principles of law on tax planning vs.
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