Undoing business: Vodafone conciliation failure is a serious setback

The finance ministry will move a cabinet note withdrawing the conciliation offer made to Vodafone, which was approved by the Union cabinet in June 2013, regarding the Rs 20,000 crore capital gains tax raised against Vodafone Plc. The talks broke down because the finance ministry was unwilling to accommodate within the scope of the conciliation process the dispute on the Rs 3,700 crore transfer pricing tax demand raised against Vodafone India on the transfer of Analjit Singh and Asim Ghose’s shares in 2007.

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