Government lost lakhs of crores in voluntary disclosure of income scheme.Voda"``s problem is a matter of legal opinion.Levy of penalty can be dropped by the income tax department.Charge of interest can be waived by the concerned CCIT since voda has valid reasons.
Government lost lakhs of crores in voluntary disclosure of income scheme.Voda"``s problem is a matter of legal opinion.Levy of penalty can be dropped by the income tax department.Charge of interest can be waived by the concerned CCIT since voda has valid reasons.
Well Vodafone willfully defaulted on tax when Rupee was much stronger and hence they should pay at least same number of dollars due at the time of the deal plus dollar interest compounded.
I think it is better for Govt to accept this offer of Vodafone. There is really No point in levying interest and Penalty for a Law which was changed retrospectively.