Karnataka HC: Vodafone-like case

By: Ernst & Young

Karnataka High Court delivers ruling in a Vodafone-like case Cross-border acquisitions of Indian companies have been a focus of the Indian Tax Authority over the last couple of years. It is well established that if an acquisition involves a direct transfer of shares of an Indian company, the same would trigger taxable capital gains under the Indian Tax Law (ITL). However, the subject-matter assumes complexity where the transaction involves the