Taxing question

The Supreme Court ruling in favour of Vodafone in its tax dispute with the government - the whopping amount of Rs 11,800 crore is at stake - should bring cheer to foreign investors as it sends a reassuring signal about the prevalence of the rule of law in India. The apex court has ruled that the transaction, involving the transfer of Indian assets to Vodafone from Hong Kong-based Hutchison Whampoa, is outside India's territorial tax jurisdiction. 

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