Vodafone ruling over a retrospective tax demand could instigate others to take similar route

“The award will have immense persuasive value for all other tax cases that are going on, but the Indian government is likely to consider each case differently based on facts,” stated Ravi Raghavan, tax counsel at Majumdar & Partners.

One of the outstanding instances beneath worldwide arbitration in-volving the retrospective tax modification of 2012 is with Cairn Energy and Vedanta Resources. Kumarmanglam Vijay, associate at J Sagar Associates, stated Vodafone win at the Permanent Court of Arbitration in The Hague “may cause other similarly placed companies to seek arbitral reliefs”. He stated the house is more likely to witness additional motion.

The authorities is evaluating whether or not to problem the worldwide tribunal award. “Government will think about all choices and take a choice on additional plan of action together with authorized treatments earlier than acceptable fora,” it stated in an announcement on Friday. World News Today 24X7