India - Look-At Approach Prevails over Dissection: The Vodafone Saga
- P.R.K. Jhabakh
- Derivatives & Financial Instruments, 2012 (Volume 14), No 4
- 5 July 2012
This article analyses the ruling of the Supreme Court of India in the controversial case of Vodafone International Holdings B.V., which ultimately provided relief to Vodafone of a potential tax liability of INR 25 billion. The Supreme Court concluded that the Indian Courts and the tax authorities should ascertain the purpose of a transaction by looking at the entire transaction holistically, rather than adopting a dissecting approach.