Not just Vodafone, taxman could dig up these deals too

The government’s decision to amend the income tax law to retrospectively tax all cross-border deals where underlying assets lie in India has sent shivers down the spine of India Inc. While Vodafone’s $11-billion acquisition of Hutch’s stake in Hutch-Essar in 2007 is at the centre of this decision, the bigger concern is that in the last six years, there have been several deals which have faced similar tax demands and landed up in court.

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