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\"\"MUMBAI: Vindicating the income tax<\/a> department’s stand, the Income Tax Appellate Tribunal<\/a> (ITAT) has ruled that it has the jurisdiction to raise a tax demand in the Rs 8,500-crore transfer pricing tax dispute relating to the Indian subsidiary of Vodafone Group<\/a>.
\n
The tribunal, however, in a partial reprieve for Vodafone India<\/a>, sent the case back to the tax authority for deciding the revised taxable amount of Vodafone India. The tribunal also did not accept the valuation arrived at by the tax department and asked it to revise the same.
\n
\n\"The assessee’s (Vodafone India) appeal is partly allowed,\" said presiding officers Vijay Pal Rao and RC Sharma on Wednesday while pronouncing the operative part of the order. \"According to us, this is an international transaction since the assignment of the call option took place.\" An email query to Vodafone did not elicit any response.
\n
The dispute relates to a transaction involving the sale of its call centre business by Vodafone India to another India based company Hutchison Whampoa<\/a> Properties and an assignment of call options to its group entity Vodafone International in 2007-2008.
\n
\nThe transaction attracted transfer pricing norms as there was no arm's length dealing between the two entities.
\n
\nTransfer pricing involves related entities dealing at arm's length to ensure fair pricing of the asset that is transferred. In 2013, the tax department had issued a tax demand of Rs 3,700 crore to Vodafone India. However, the tribunal stayed the demand till the plea is decided and directed telecom company to deposit Rs 200 crore by February 15, which was deposited by the assessee.
\n
\nThe Mumbai ITAT in its 189-page order has held that the transaction of sale of call centre business was structured with the motive to \"circumvent\" the transfer pricing provisions of the act and the transaction was in essence an international transaction between two related parties and thus would be subject to the transfer pricing provisions.
\n
\nAs regards determination of arm’s length price for the said transaction, the tribunal has directed the matter back to the transfer pricing officer and has ordered that the discounted cash flow (DCF) method should be considered as the most appropriate method for valuing the call centre business.
\n
\nDiscounted cash flow uses the time value of money wherein future cash flows are estimated and discounted to give their net present value.
\n
\"The ruling bestows undue hardship on taxpayers and is contrary to the principles of legitimate tax planning which have been time and again upheld by the Indian Courts,\" Rakesh Nangia<\/a>, managing partner, Nangia, told ET. \"A careful analysis of the judgment would reveal the extent to which the tribunal has taken the liberty in piercing the corporate veil while upholding the applicability of transfer pricing provisions for otherwise third-party transactions. In our view, this judgment could add to the already gloomy foreign investment scenario in India and would push back India as a promising investment destination.\"
\n
\nOn the main takeaway of the ITAT ruling, Samir Gandhi, partner, Deloitte Haskins & Sells, said: \"Substance as against form will govern the determination of chargeability to tax -one has to be aware of provisions of lifting of the corporate veil in typical facts.
\n
\n\"In cross-border mergers and demergers, more focus has to be given to clauses in agreements & the legal language need to match with facts; interposed entity to be given considerable thoughts & economic substance & commercial justification. Valuation should not to be considered as mere compliance filing of form exercise -specialisation of valuation of business , options will play a part,\" said Gandhi.
\n
\n\n<\/body>","next_sibling":[{"msid":45470444,"title":"Telecom industry calls for more spectrum in Feb auctions","entity_type":"ARTICLE","link":"\/news\/industry\/telecom-industry-calls-for-more-spectrum-in-feb-auctions\/45470444","category_name":null,"category_name_seo":"industry"}],"related_content":[],"msid":45470791,"entity_type":"ARTICLE","title":"Transfer pricing dispute: ITAT says it has jurisdiction to raise Vodafone tax demand","synopsis":"In a partial reprieve for Vodafone India, the tribunal sent the case back to the I-T department for deciding revised taxable amount of the telco.","titleseo":"industry\/transfer-pricing-dispute-itat-says-it-has-jurisdiction-to-raise-vodafone-tax-demand","status":"ACTIVE","authors":[{"author_name":"Maulik Vyas","author_link":"\/author\/479185842\/maulik-vyas","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479185842.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479185842,"author_name":"Maulik Vyas","author_seo_name":"maulik-vyas","designation":"Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2014-12-11 14:29:53","lastupd":"2014-12-11 14:45:02","breadcrumbTags":["industry","Income Tax","M&A","Hutchison Whampoa","Income Tax Appellate Tribunal","Vodafone group","Vodafone India","Rakesh Nangia"],"secinfo":{"seolocation":"industry\/transfer-pricing-dispute-itat-says-it-has-jurisdiction-to-raise-vodafone-tax-demand"}}" data-authors="[" maulik vyas"]" data-category-name="Industry" data-category_id="18" data-date="2014-12-11" data-index="article_1">

转让定价争议:沃达丰的ITAT说它有管辖权提高需求

在部分缓刑沃达丰印度,法庭将此案发回决定修改它部门电信的应税金额。

Maulik Vyas以及
  • 更新于2014年12月11日02:45点坚持
孟买:六四所得税部门的立场,所得税上诉法庭开办裁定,它有管辖权提高税收需求价值8500卢比的转让定价税收争端有关印度的子公司沃达丰集团。

然而,法庭部分缓刑沃达丰印度,发送回税务机关决定修改后的应税金额的沃达丰印度。法庭也没有接受税务部门的估值到达,问同样修改。

“assessee(沃达丰印度)的吸引力部分是允许的,“首席军官Vijay朋友饶和RC Sharma称周三当发订单的执行部分。”对我们来说,这是一个国际事务任务以来的看涨期权。”An email query to Vodafone did not elicit any response.

争议涉及到事务涉及出售其呼叫中心业务通过沃达丰印度另一个印度公司和记黄埔(Hutchison Whampoa)属性和一个看涨期权分配给它的组织实体沃达丰国际2007 - 2008年。

交易吸引了转让定价准则没有两个实体之间的正常交易。

转让定价涉及到相关的实体处理距离以确保公平定价的资产转移。2013年,税务部门已经发布了一个税收3700卢比沃达丰印度的需求。然而,法庭呆到请求的需求决定和指示电信公司存款200卢比到2月15日,这是由assessee沉积。

孟买在其189页的订单一直开办,呼叫中心业务的销售事务与动机结构“规避”的转让定价规定行为和交易两个关联方之间本质上是一个国际事务,从而将受到转让定价规定。

至于公平价格的决心表示事务,法庭已经指示此事回转让定价官下令,贴现现金流(DCF)方法应该被认为是最合适的方法,重视呼叫中心业务。

贴现现金流使用资金的时间价值在估计未来现金流和折现给他们的净现值。

“统治给予过度的纳税人和困难是与合法的税收筹划的原则已被一次又一次地支持印度法庭,”拉克什Nangia、管理合伙人Nangia告诉等。“仔细的分析判断会揭示出自由的法庭已经刺穿公司面纱而坚持的适用性为其他第三方交易转让定价规定。在我们看来,这种判断可能会添加到已经黯淡的场景在印度和外国投资将支持印度作为有前途的投资目的地。”

的主要外卖的ITAT裁决,萨米尔甘地,伙伴,德勤哈斯金斯&销售说:“物质与形式将治理的决心荷电率征税——必须意识到规定解除公司面纱的典型事实。

“在跨境合并和分立,更多的关注给予条款在协议和法律语言与事实需要匹配;插入实体得到相当大的想法和经济实质&商业理由。估值不应被视为仅仅是合规文件形式运动估值业务的专业化,选项将起到一定的作用,”甘地说。

  • 发布于2014年12月11日下午02:29坚持
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\"\"MUMBAI: Vindicating the income tax<\/a> department’s stand, the Income Tax Appellate Tribunal<\/a> (ITAT) has ruled that it has the jurisdiction to raise a tax demand in the Rs 8,500-crore transfer pricing tax dispute relating to the Indian subsidiary of Vodafone Group<\/a>.
\n
The tribunal, however, in a partial reprieve for Vodafone India<\/a>, sent the case back to the tax authority for deciding the revised taxable amount of Vodafone India. The tribunal also did not accept the valuation arrived at by the tax department and asked it to revise the same.
\n
\n\"The assessee’s (Vodafone India) appeal is partly allowed,\" said presiding officers Vijay Pal Rao and RC Sharma on Wednesday while pronouncing the operative part of the order. \"According to us, this is an international transaction since the assignment of the call option took place.\" An email query to Vodafone did not elicit any response.
\n
The dispute relates to a transaction involving the sale of its call centre business by Vodafone India to another India based company Hutchison Whampoa<\/a> Properties and an assignment of call options to its group entity Vodafone International in 2007-2008.
\n
\nThe transaction attracted transfer pricing norms as there was no arm's length dealing between the two entities.
\n
\nTransfer pricing involves related entities dealing at arm's length to ensure fair pricing of the asset that is transferred. In 2013, the tax department had issued a tax demand of Rs 3,700 crore to Vodafone India. However, the tribunal stayed the demand till the plea is decided and directed telecom company to deposit Rs 200 crore by February 15, which was deposited by the assessee.
\n
\nThe Mumbai ITAT in its 189-page order has held that the transaction of sale of call centre business was structured with the motive to \"circumvent\" the transfer pricing provisions of the act and the transaction was in essence an international transaction between two related parties and thus would be subject to the transfer pricing provisions.
\n
\nAs regards determination of arm’s length price for the said transaction, the tribunal has directed the matter back to the transfer pricing officer and has ordered that the discounted cash flow (DCF) method should be considered as the most appropriate method for valuing the call centre business.
\n
\nDiscounted cash flow uses the time value of money wherein future cash flows are estimated and discounted to give their net present value.
\n
\"The ruling bestows undue hardship on taxpayers and is contrary to the principles of legitimate tax planning which have been time and again upheld by the Indian Courts,\" Rakesh Nangia<\/a>, managing partner, Nangia, told ET. \"A careful analysis of the judgment would reveal the extent to which the tribunal has taken the liberty in piercing the corporate veil while upholding the applicability of transfer pricing provisions for otherwise third-party transactions. In our view, this judgment could add to the already gloomy foreign investment scenario in India and would push back India as a promising investment destination.\"
\n
\nOn the main takeaway of the ITAT ruling, Samir Gandhi, partner, Deloitte Haskins & Sells, said: \"Substance as against form will govern the determination of chargeability to tax -one has to be aware of provisions of lifting of the corporate veil in typical facts.
\n
\n\"In cross-border mergers and demergers, more focus has to be given to clauses in agreements & the legal language need to match with facts; interposed entity to be given considerable thoughts & economic substance & commercial justification. Valuation should not to be considered as mere compliance filing of form exercise -specialisation of valuation of business , options will play a part,\" said Gandhi.
\n
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