Feb 2007: Vodafone buys 67% stake in Hutchison India for $ 11.5 bn
August 2007: Income Tax dept issues show cause notice to Hutchison Essar
September 2007: Income Tax dept issues show cause notice to Vodafone
October 2007: Vodafone files a writ petition in the Bombay High Court
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February 2008: Govt amends Section 201 of IT act with retrospective effect, Amendment makes withholding tax mandatory
December 2008: Bombay High Court allows Tax dept to proceed on show cause notice
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January 2009: Vodafone approaches Supreme Court challenging Tax dept's jurisdiction
January 2009: SC asks Tax dept to determine whether it has jurisdiction to levy tax
Jan-Sept 2009: Vodafone provides documents to tax dept to determine jurisdiction
30 October 2009: Income tax Dept issues new showcause notice
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29 January 2010: Vodafone files its response against the fresh showcause notice
31 May 2010: Tax dept issues order claiming jurisdiction to tax the transaction
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7 June 2010: Vodafone files a writ petition in the Bombay HC challenging the order
8 Sept 2010: Bombay HC delivers the verdict in favour of IT Dept
14 Sept 2010: Vodafone challenges the Bombay HC order in the Supreme Court
15 Nov 2010: SC asks Vodafone to deposit Rs 2500 cr in cash,Rs 8500 cr in bank guarantees
20 Jan 2012: Supreme Court delivers 2:1 judgement, no tax liability for Vodafone, No capital gains as buyer, seller are both foreign entities, SC asks Tax dept to return Rs 2500 crore to Vodafone with 4% interest
Source: BS Reporter / Mumbai Jan 20, 2012, 13:41 IST
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