Vodafone Group has won an international arbitration case against the Indian government in a ₹20,000 crore retrospective tax dispute, news agency Reuters reported.
An international arbitration tribunal in The Hague ruled that India’s imposition of a tax liability on Vodafone, as well as interest and penalties, were in a breach of an investment treaty agreement between India and the Netherlands, said the report.
The tribunal, in its ruling, said the government must cease seeking the dues from Vodafone and should also pay 4.3 million pounds ($5.47 million) to the company as partial compensation for its legal costs.
After the verdict, the Finance Ministry has said, the govt will consider all options and take a decision on further course of action including legal remedies.