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Government not to appeal Vodafone tax ruling

New Delhi, Jan 29 (ANI): The central government will not appeal a regional court ruling in favour of Vodafone Group Plc in a long-running tax dispute, the cabinet decided in a move aimed at boosting investor confidence in Asia's third-largest economy. Vodafone, the biggest foreign corporate investor in India, has been involved in a series of tax disputes since it entered the country seven years ago. In one such case, India's tax office had accused a unit of the British group of under-pricing shares in a rights issue to its parent company and demanded tax of about 30 billion rupees. The Bombay High Court had in October ruled in favour of Vodafone, and later the attorney general had recommended the government to refrain from appealing that ruling at the Supreme Court. Communications and IT Minister Ravi Shankar Prasad said the decision was in direction to assure investors of a fair and just Indian government. Jan 29, 2015
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