Government withdraws the retrospective application of ‘indirect transfer’ related provisions – is it too late?

On the 20 January 2012, the landmark decision of the Supreme Court in the case of Vodafone International Holdings B.V. v. UOI (341 ITR 1) was pronounced which dealt with the taxability of gains arising from the transfer of assets, deriving their value from India, through the transfer of shares of a foreign company (indirect transfer of Indian assets).On the 20 January 2012, the landmark decision of the Supreme Court in the case of Vodafone International Holdings B.V. v. UOI (341 ITR 1) was pronounced which dealt with the taxability of gains arising from the transfer of assets, deriving their value from India, through the transfer of shares of a foreign company (indirect transfer of Indian assets).taxmann.com Latest ArticlesRead More

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