A court ruled in favour of Vodafone on Friday in a long-running dispute with the Indian taxman, a boost for the British telecom group whose tax battles have been seen as emblematic of the troubles facing foreign investors in India.
Only 300 assessees came forward with disputed tax liabilities amounting to Rs 10,000 crore
Delhi High Court quashes reassessment proceedings by Income Tax department.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
New government should consider reforming taxation rules.
The I-T department had said Vodafone India under-priced shares in a rights issue to its parent. The tax demand was for the two financial years ended March 2011.
In effect, companies which put their money in telecom in India would have done much better to keep the cash in bank and earn interest.
A consummate deal-maker, the former Aircel boss raked in the moolah in many, but lost a packet in several others.
CBDT circular issued last month had raised multiple taxation concerns.
Granted 6-month relief, subject to interim payments and guarantee, on Rs 3,700-cr demand for alleged transfer pricing in FY09.
The exploration and production assets of Essar Oil will not be part of the Rosneft deal and would continue to remain with the Group.
Essar Global Fund, the Ruia company that invested $1.3 billion in telecommunications, towers and business process outsourcing over the years, made $6.5 billion, a five-fold return, when it flipped these businesses, according to discussions the group has had with merchant bankers.
While it was technically not possible to block the deal, the tax department could resort to arm-twisting.
Representatives of the British telecom company on Friday met senior finance ministry officials, in search of an amicable solution.
The dispute over the tax payable for its purchase in 2007 of the 67 per cent stake in Hutch is on an amount of Rs 11,200 crore (Rs 112 billion).
The retrospective tax decision reversing the January 2012 Supreme Court verdict in the Vodafone case has often been cited as the reason for foreign investors losing confidence in India as an investment destination.
EyeEm, a global community and marketplace for photography and video, is in the middle of its fourth and largest photography competition yet.
India's fifth largest software services firm Tech Mahindra will acquire global network services firm Lightbridge Communications Corporation (LCC) in an all-cash deal worth $240 million (over Rs 1,486 crore).
The government plans to take India into the top 50 ranks in ease of doing business in the next two years with efforts such as shifting all applications for industrial licenses online.
Vodafone Plc and its ex-shareholders have suffered due to the delay in an Initial Public Offer (IPO) of its Indian unit.
Jaitley sets condition of 50% assets for applicability of capital gain tax.
At the young age of 15, Wang joined the People's Liberation Army as a guard.
In April 2013, CBI had first told the Court there were "some difficulties" in the probe after it went abroad.
Bharti to spend Rs 1,600 cr for spectrum payout over 10 yrs; Telenor to service its own debt.
Over the years, Mr Singh has got in and out of innumerable businesses, cutting across sectors. He is one businessman who I have always found to be in a start-up mode, says Bhupesh Bhandari.
Chanda Kochhar, managing director of ICICI Bank, says the new government must take effective action bringing clarity around tax laws.
Every start-up's dream is to become a unicorn.
In 2013-14, India became the third-largest contributor to Vodafone Group's service revenue and operating free cash flow.
Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash, with dozens of dealers suspended or fired.
The government now ends its mandate with reaffirmation in the vote-on-account of the same goals, for which it claims to have a clear line of sight.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
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