Government not to appeal against similar verdictsin other cases
In a move aimed at improving the investment climate in the country, the Union Cabinet on Wednesday decided not to challenge a Bombay High Court ruling that said Vodafone was not liable to pay a tax demand of Rs. 3,200 crore in a transfer pricing case.
The Cabinet also decided not to appeal against similar verdicts in other cases against taxpayers.
The decision follows Attorney-General Mukul Rohatgi’s advice to the Income Tax Department not to appeal against the High Court judgment.
Briefing presspersons after the meeting, Union Minister Ravi Shankar Prasad said: “It sends out the message to global investors whose confidence in India was shaken in the past. Prime Minister [Narendra] Modi wants it to be known that his government will take decisions that will be fair, transparent and within four corners of the law.”
In a move aimed at improving the investment climate in the country, the Union Cabinet on Wednesday decided not to challenge a Bombay High Court ruling that said Vodafone was not liable to pay a tax demand of Rs. 3,200 crore in a transfer pricing case.
The Cabinet also decided not to appeal against similar verdicts in other cases against taxpayers.
The decision follows Attorney-General Mukul Rohatgi’s advice to the Income Tax Department not to appeal against the High Court judgment.
Briefing presspersons after the meeting, Union Minister Ravi Shankar Prasad said: “It sends out the message to global investors whose confidence in India was shaken in the past. Prime Minister [Narendra] Modi wants it to be known that his government will take decisions that will be fair, transparent and within four corners of the law.”
Source - The Hindu
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