Central Board of Direct Taxes officials asked to lay off ‘Vodafone-like cases’ to reduce litigation

The Central Board of Direct Taxes (CBDT) has asked its officials to apply the principle behind a Bombay High Court ruling in favour of Vodafone in a transfer pricing case, thus moving quickly to bring to an end litigation embroiling other multinational corporations and firmly establishing its commitment to provide a nonadversarial tax regime.As many as 26 tax disputes could come to an end as the tax demands were based on a logic similar to that applied in case of Vodafone and now rejected by the government. Directions in the form of a letter have been issued in cases where the circumstances are identical, a senior government official told ET.

Source : http://economictimes.indiatimes.com/news/economy/policy/central-board-of-direct-taxes-officials-asked-to-lay-off-vodafone-like-cases-to-reduce-litigation/articleshow/46060185.cms

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