Vodafone not the only retro rule in Budget, there there are 25 others

Retrospective amendment in the Finance Bill, 2012, is not restricted to the Vodafone case, where the taxman hopes to realise Rs 12,000 crore in capital gains tax despite a Supreme Court ruling against the government. An analysis of the Bill shows that Finance Minister Pranab Mukherjee has proposed 25-odd explanations or amendments that will empower revenue authorities to reopen cases beyond six years. Several of these changes seek to overturn earlier court judgments.

Read Full Story>>