Amicus Curiae: HC relies on SC Vodafone verdict

In a major relief to Indian subsidiary of British telecom major Vodafone, the Bombay High Court has set aside an order of Income Tax Appellate Tribunal which had ruled that I-T had the powers to raise tax demand on the company in a Rs 8500 crore transfer pricing case. The transfer pricing case dates back to FY08 relating to sale of one of its call centres in Ahmedabad in 2007.