Supreme Court dismissed USD two billion Vodafone capital gains tax case

THE Supreme Court today simply dismissed the much-hyped USD two billion Vodafone capital gains tax case at the admission stage itself. Before rejecting the SLP, the Bench asked the assesee – why did they not furnish the copy of their original agreement to the Court and also to the Revenue? In reply the assessee spoke about their delayed offer and promised to make the same available any time. Having heard the Senior Advocate, Mr Fali Nariman for the assessee, and the ASG, Mr Mohan Prasaran with Special Counsel, Mr G C Srivastava, the Apex Court directed the assessee to go back to the Asse...