Vodafone International Holdings B.V. vs. Union of India

[casarvesh]

The Supreme Court dealt with the interpretation of the provisions of
section 9(1)(i) in Vodafone International Holdings B.V. v. Union of
India [2012] 17 taxmann.com 202(SC). The facts of the case involved a
holding company incorporated offshore (transferor foreign company)
controlling an Indian subsidiary company through a maze of 100%
subsidiaries incorporated in various foreign countries which are
investment companies. The transferor of foreign company sought to
divest control over Indian subsidiary by transferring shares in an
upstream foreign subsidiary company to another foreign company
(transferee foreign company) through an offshore transaction (i.e.
sale outside India) and the transferee foreign company stepping into
the shoes of the transferor foreign company.

For More Details click under the following link
http://www.taxmann.com/taxmannflashes/taxmann_com(D)20-1-12-O-17(202).htm