Third time lucky at Vodafone?

But, the argument on the Vodafone retrospective tax amendment now takes a different turn, “this is a case of double non-taxation”—that is, Vodafone-Hutch never paid capital gains taxes in either the UK where Vodafone is headquartered or in India where the telecom network that Hutch sold is located. Why shouldn’t Vodafone-Hutch pay capital gains taxes when Sunil Jain does? That was not, could not, have been the “intention of the legislature”, to use the phrase from the note the finance minister put out last week.

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