Vodafone Judgement Erroneous?
MY Experience with the office of Additional Solicitor General of India is already a news-making Book, authored by Mr. Bishwajit Bhattacharyya, who served as ASG to Government of India. It is reported that a separate Chapter has been devoted to Vodafone case alone. According to the former ASG, the Vodafone verdict was wrong! This view has also support from former CJI, J.S. Verma.
According to Mr Bhattacharyya, for the judiciary to say that there is no jurisdiction,is erroneous. If the FIPB (Foreign Investment Promotion Board) has territorial jurisdiction over the remittance/transaction, why not the Central Board of Direct Taxes? And how is the transaction a Foreign Direct Investment when not a dollar came to India?"
It is said that the Supreme Court orders are final not necessarily because they are RIGHT, but because there is no appeal against them!
Meanwhile, it is reported that Vodafone has decided against making a USD 2.2 billion (about Rs 12,000 crore) provision for its Indian tax liability. Any cue from PM's recent statement that a final decision will be taken in a few weeks on retro amendments?