The landmark judgement by the SC in favour of the Vodafone telecom company should mean that this year's budget should incorporate a mechanism to prevent such severe loss to the exchequer or a direct ruling in accordance with the SC verdict, whichever it seems deemed fit...
Vodafone had filed a case against the government for demanding tax for shares bought by the company from the Hutchinson-Essar limited. This was a sensitive issue which was very keenly watched by the corporate world...
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