I-T dept may not go for review of judgement on Vodafone case
The Income Tax department may not go in for filing a review petition on the Supreme Court's judgement on the Vodafone taxation case.delhi Updated: Jan 23, 2012 13:11 IST
The Income Tax department may not go in for filing a review petition on the Supreme Court's judgement on the Vodafone taxation case.
Top sources in the department said that a ten-member "core committee", which has been specially constituted, will go into the details of the order.
But the department may take a view not to file a review petition against the order which was delivered by a three-member Supreme Court bench headed by Chief Justice S H Kapadia Friday, the sources said.
"We will have to study the whole judgement and then decide (on the course of action that needs to be taken)," CBDT Chairman M C Joshi told PTI.
"We take the judgement of the Supreme Court in our stride and there is no chance of the I-T department going in for a review petition in the case," a top official involved in the case said.
I-T sources said they had prepared a "ready reckoner" compendium of the timeline of the case, since 2007, and had submitted almost eight spiral-bound volumes so that the Supreme Court bench could go through all the points of the case in fine details.
"The bench has given the order after going through all of these documents. The core committee will go through the order of the apex court and suggest lessons to be drawn from the judgement," the official said.
In a landmark judgement, the Supreme Court on Friday had set aside the Bombay high court ruling asking Vodafone International Holdings to pay Rs 11,000 crore in income tax on acquisition of interests in Hutchinson-Essar Limited in 2007 overseas.
First Published: Jan 23, 2012 13:08 IST