I-T dept moves SC to reopen Vodafone case
Indu Bhan: New Delhi, Dec 18 2012, 02:00 IST
prohibited by the statute, but whether the transaction is a device to avoid tax, and whether the transaction is such that the judicial process may accord its approval to it”.
Quoting the same judgment, the application continues: “There is the large hidden loss to the community by some of the best brains in the country being involved in the perpetual war waged between the tax-avoider and his expert team of advisers, lawyers and accountants on one side and the tax-gatherer and his perhaps not so skilful advisers on the other side.” The government’s intent to reopen the matter was first expressed during the hearing of the Vodfone-Essar Gujarat case last Monday when solicitor-general R Nariman argued that the matter be heard by a seven-judge bench. FE
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