Another relief for Vodafone

The Bombay High Court on Monday ruled in favour of Vodafone again in a similar transfer pricing dispute in which Rs 1,400 crore of tax was demanded from Vodafone for a different assessment year. The court on ruled in favour of British telecom major saying it didn't have to pay additional tax of Rs 3,200 crore, as demanded by the authorities. The department had said Vodafone India under-priced shares in a rights issue to its parent. The tax demand was for the two financial years ended March 2011. The amount included tax and interest for the tax demand for assessment year 2009-10.