Vodafone wins the arbitration case against the Indian government. The tribunal in fact ruled that the Indian government’s imposition of tax liability on Vodafone is in breach of the investment treaty agreement between India and Netherland.
The case has been won over retrospective tax demand of Rs 20,000 Cr. The retrospective tax dispute happened during the UPA era. The proceeding was initiated by Vodafone back in 2014, claiming that the tax liability that was being imposed on the company via retrospective amendments to the Income Tax Law, actually violated the principles of equitable and fair treatment under the treaty.