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I-T Dept can't impose retrospective penalty: V'fone Counsel

Published on Mon, Jun 30 at 20:31 , Updated at Mon, Jun 30 at 20:38
Source : CNBC-TV18

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It was the fifth day of hearing for the Vodafone tax case at the Bombay High Court. Today, Vodafone's lawyer attacked the Income Tax Act amendment. He said the taxman could impose a retrospective tax but not a retrospective penalty.

 

Vodafone claimed that the amendment imposed an unreasonable tax burden on Vodafone. The lawyer also added that Vodafone should not be accountable for Hutchison's tax liability.

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