I-T dept imposes Rs 7,900 crore Penalty on Vodafone For Tax Dues

The Income Tax Department has imposed Rs 7,900 crore penalty on the tax demand of the same amount on a unit of billionaire Li Ka-shing’s CK Hutchison Holdings Ltd. over its decade-old sale of mobile phone business in India to Vodafone Group Plc.

Vodafone had in 2007 acquired 67% stake in the mobile-phone business owned by Hutchison Whampoa, now part of CK Hutchison.
Source- The Hindu

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