• Sign Up
  • |
  • Sign In Sign Out
  • |
  • Make us your home
  • |
  • RSS
1 2
1 15
1 4
1 9
1 13
1 14
IPO
1 25
1 5015
1 5018
  • SMS BOS < SPACE > MF, MUTUAL FUND QUERY AT 56388
  • COS GETTING FRESH FDI IN SECTORS WHERE FDI CAPS HAVE GONE UP: SOURCES
  • NEW NORMS TO CONSIDER TOTAL FOREIGN INVESTMENT NOT TOTAL INVESTMENT: SRCS
  • CCEA NOD NEEDED ONLY FOR INVESTMENTS OF RS.1200 CR AND ABOVE: SOURCES
  • GOVT TO EASE NORMS FOR FDI REQUIRING CABINET APPROVAL: SOURCES
  • NO PLANS TO OFFER HOME LOANS AT 8%: NW
  • OCTOBER UNEMPLOYMENT RATE RISES TO 10.2% VS 9.8% (MOM)
  • EMPLOYERS CUT PAYROLLS BY 190,000 IN OCTOBER VS ESTIMATE OF 175,000
  • FOREIGN FUNDS NET BUY RS.587.02 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
  • DOMESTIC FUNDS NET BUY RS.236.62 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
  • KINGFISHER RAISES FUEL SURCHARGE BY RS.200 ON SECTORS MORE THAN 1000 KM
  • KINGFISHER RAISES FUEL SURCHARGE BY RS.100 ON SECTORS UPTO 1000 KM
  • JET AIRWAYS RAISES FUEL SURCHARGE BY RS.100-150 ON SECTORS UPTO 1000 KM
  • NET PROFIT AT $455 MN VS LOSS OF $24.6 BN (YOY)
  • TOTAL REVENUES AT $26.05 BN VS $898 MN (YOY)
  • MUTUAL FUNDS NET BUY RS.34.3 CR IN EQUITIES ON NOVEMBER 5
  • FOREIGN FUNDS NET BUY RS.267.6 CR ($56.8 MN) IN EQUITIES ON NOVEMBER 5
  • OVER 7% GROWTH ACHIEVABLE IN FY'11
  • TO EXPLORE STIMULUS EXIT MODE NOW; WINDING DOWN STIMULUS TO CUT DEFICIT
  • SENSEX UP 1.65%, NIFTY UP 1.8% FOR THE WEEK
  • CNX MIDCAP INDEX UP 3.9%, BSE SMALLCAP INDEX UP 1.6%
  • BSE PSU INDEX UP 4.77%, REALTY UP 4.4%, METAL INDEX UP 4%
  • INDEX GAINERS: BHARTI UP 9.4%, JP ASSOCIATES UP 8.6%, IDFC UP 7%
  • GETS U.S. FDA NOD FOR GENERIC ACULAR
  • TO RAISE UPTO $300 MN VIA FCCBS
  • EXTENDING 8% HOME LOAN SCHEME TILL 31ST MARCH , 2010
  • INDIAN RAILWAYS SHOULD RATIONALISE PASSENGER FARES UPWARD
  • TO RAILWAYS: STOP CROSS SUBSIDISING FARES AND FREIGHTS
  • IMPOSES 20% SAFEGUARD DUTY ON IMPORT OF SODA ASH
  • ROAD DEFICIT REMAINS THE GREATEST PROBLEM IN INFRASTRUCTURE IN INDIA
Updated: 03/12/2008 | 05:44 PM IST
Vodafone loses I-T case, to move SC
Press Trust of India
Wednesday, December 03, 2008 (Mumbai)
Comments:
Read (0)
Asserting that Indian tax authorities have no jurisdiction over it, telecom major Vodafone today said it will move the Supreme Court against the ruling of the Bombay High Court in a tax matter.

The High Court today dismissed Vodafone International's petition challenging the Income Tax (I-T) department's show-cause notice for payment of capital gains tax of around $two billion.

"Indian tax authorities have no jurisdiction over Vodafone. The Bombay High Court has given eight weeks time, we shall appeal against the order in the Supreme Court," Dinesh Kanabar, Executive Director with PriceWaterhouseCooper and Advisor to Vodafone in the matter, said.

The division bench of Justices S Radhakrishnan and Anand Nirgude, however, continued the earlier stay to the show-cause notice for further eight weeks to enable Vodafone file an appeal.

Vodafone Holdings International, a Netherlands-based company, picked up the stake of Hutchison in Hutchison-Essar to form the new entity Vodafone-Essar in a $11.2 billion deals in 2006.

I-T authorities issued a notice to Vodafone Essar last year for capital gains tax to the tune of around $two billion. Though seller of assets has to pay this tax, I-T expected Vodafone to deduct the tax before making the payment to Hutch.

Vodafone, a majority shareholder in India's second largest private mobile telecom firm Vodafone-Essar, has a subscriber base of over 56 million.
Comments:
Read (0)
Comments
 
Market Watch
         
Graphs
Stocks

                                Moremore
Stock Dashboard
Trading Calls
Ashuu Kakkarr
Ashuu Kakkarr
0.48% status
Current: Rs 848.75
Stock Recos
The stock may touch Rs 120 in 6-8 months
The investors can hold the stock for the medium term with a stoploss of Rs 45
Buy or Sell
Today's Analyst: Shruti Vora
Query : Hitesh Sarkar, an investor from Surat, has 500 Wockhardt at Rs 194/share.