The Bombay high court on Thursday quashed an order of the Income Tax Appellate Tribunal (ITAT) which had ruled that the IT Department had powers to raise a tax demand on telecom giant Vodafone India in a Rs 8,500 crore transfer pricing case. In a terse statement, Vodafone India “welcomed” the high c...

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A Mumbai Income Tax Appellate Tribunal (ITAT) has found that Linklaters should pay income tax in India on all India-related profits after applying a retrospective Finance Bill 2010 amendment to section 9(1) of the Income Tax Act, going against the latest decision in the Clifford Chance tax battle that is currently in the Indian Supreme Court.