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India - Look-At Approach Prevails over Dissection: The Vodafone Saga

Country:
India
Author:
P.R.K. Jhabakh
Issue:
Derivatives & Financial Instruments, 2012 (Volume 14), No 4
Published:
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.
 
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