The income tax appellate tribunal (ITAT) has upheld the arm’s length price (ALP) adjustment against Vodafone India Services by the income-tax department. However, the Ahmedabad bench of the tribunal said that the department needed to modify the order that attributed Rs 1,588 crore as business income to the assessee and recalculate the liability of the firm under capital gains. Nitin Narang, Executive Director shares his views on aforementioned story for following publications:
  1. Business Standard
  2. Financial Express