इंडियन आवाज़     08 Dec 2023 05:41:12      انڈین آواز

Income Tax notice to Vodafone seeking reassessment of returns

taxIncome Tax authorities have issued a fresh notice to UK-based telecom giant Vodafone seeking reassessment of tax returns for two years. The notice has been served under Section 148 of the Income Tax Act which seeks to deal with income that has escaped assessment. Sources said the notice seeks additional information from Vodafone for two years, 2009-10 and 2010-11.

Vodafone has faced several tax cases in the past relating to transfer pricing and capital gains. The government and Vodafone have mutually agreed to extend the deadline for appointment of the third arbitrator to resolve the 20,000-crore rupees tax dispute case with Vodafone.

Earlier, in January, the government had decided against appealing the Bombay High Court order that absolved Vodafone of 3,200-crore rupees tax demand in a transfer pricing case.

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