Whatever the judgement of this case would be, it would for sure create a landmark with respect to income classification. It would be used as a precedent in numerous cases to come in future. Owing to the current scenario and the facts of the current case, the judgement went in favour of Vodafone, saving them a tax penalty that went into thousands of crores. Had the conditions and facts have been different, then there would have been a different outcome (maybe resulting in an amendment of the IT act also) , which might have given huge revenue to the IT department. This case highlighted the use of these tax havens, by particular shell companies either for investment or tax evasion, but however this case according to the SC was not classified to fall under tax evasion. The SC’s interpretation of the broad concept of ‘transfer of shares was also a highlight of this case. The request made by the IT department to treat the case retrospectively with the act before 1962’s amendment, was bogus. This case was treated as of utmost importance by the SC , because the outcome if this case would have a direct impact on the investment of various foreign MNC’s in the Indian market. Yes no doubt it cannot be denied that the IT department had acted in its authority and was only fighting this case to earn revenue for the government itself , but its action of appealing in the court repeatedly which led to arbitration shows the behaviour of the It authorities towards large holdings. Due to its loss in this case , now the department would do everything in its power not let any other company( that is actually no evading tax but investing) , escape small amount of tax.
This paper aims to give a broad review of the famous Vodafone case whose main issue de...
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...d definitely be arising from India. The SC puts it this way “it is simple, if an income accrues in India, it is only then that this particular income would fall under the ambit of the jurisdiction of the IT department”. The department here claiming that the court should step into such evasion cases and give suitable amendments is a flawed argument. Section 9 of the IT act, does not mention anything about indirect transfer as contended by the IT department. The claim of the IT department shows wrongly of the tax havens as places that are merely used for evading tax, and highlighting it in a negative way. A tax haven is in fact of high economic importance and plays a crucial role in developing relations between countries. The most important fact that was pointed out by the SC was that HTIL did have control over the functioning of HEL, but no legal rights were given.
Founded in 1966 and based in Calgary, Shaw Communications is a Canadian telecommunications company that provides telephone, Internet and television services as well as mass media related services. The Company operated through three principal business segments such as Cable, consisted of cable television, Internet, Digital Phone and Shaw Business operations. Satellite, consisted of direct-to-home (DTH) and Satellite Services. Lastly media consisted of television broadcasting. Shaw Media operates as conventional television networks in Canada, Global Television, and numerous specialty networks. It provides customers with entertainment, information and communications services, utilizing a variety of distribution
Of particular importance is the deregulation of the telecommunications industry as mentioned in the act (“Implementation of the Telecommunications Act,” NTLA). This reflects a new thinking that service providers should not be limited by artificial and now antique regulatory categories but should be permitted to compete with each other in a robust marketplace that contains many diverse participants. Moreover the Act is evidence of governmental commitment to make sure that all citizens have access to advanced communication services at affordable prices through its “universal service” provisions even as competitive markets for the telecommunications industry expand. Prior to passage of this new Act, U.S. federal and state laws and a judicially established consent decree allowed some competition for certain services, most notably among long distance carriers. Universal service for basic telephony was a national objective, but one developed and shaped through federal and state regulations and case law (“Telecommunications Act of 1996,” Technology Law). The goal of universal service was referred to only in general terms in the Communications Act of 1934, the nation's basic telecommunications statute. The Telecommunications Act of 1996 among other things: (i) opens up competition by local telephone companies, long distance providers, and cable companies ...
However prior to the modern understanding of Consumer Rights there was a understanding of Caveat Emptor – Buyer Beware –this has been a fundamental premise of consumer wellbeing prior to World War ‖ , relation to transactions, principle that the buyer purchases at his own risk in the absence of an express warranty in the contract . This common law rule assumes that buyers and sellers are in an equal bargaining position. However there has been evident change in consumer rights which have contributed to the precedence of using Caveat Emptor is no longer acceptable, apparent in the case ACCC v Hewlett Packard Australia (HP), illustrated that no longer can a company ...
Phone companies are in a constant battle about which one has the best service. What would you say is the best phone company? AT&T and Verizon have been known to be one of the best companies, which means they are constantly competing against each other for customers. The two ads I found are from each companies perspective to show how both think they are the better carrier. I argue that Verizon is the better company between the two because of background knowledge and research that has been done.
The IRS usually do not need to validate ordinary business transactions since both the involved parties behave on their own self-interests. However, the IRS is skeptic of any transactions when it comes to evasion of estate taxes and international subsidiaries. When two unrelated companies enter in a transaction, they are involved in arm’s length transaction. However, such is not the case for related companies as they may try to distort the price of the transaction to avoid tax burden. As the boundary of tax evasion and tax avoidance is very thin, especially when it comes to estate tax and international subsidiaries, people often tend to topple over to the evasion side. The case of Estate of H.A. True, Jr. v Commissioner of Internal Revenue in 2005 illustrates the difficulty of obtaining the objective of tax avoidance and how expensive the failed effort of tax avoidance can be (Journal of Financial Service Professionals). Numerous cases of tax avoidance and evasion such as XILINX Inc. and H.A. True illustrate the confusion surrounding the arm’s length standards (ALS) and its application to cost sharing agreements (CSAs). In case of XILINX, the court altered its decisions few times considering the uncertainties of the arm’s length standards. Meanwhile the company believed to have satisfied the standards. Due to the complexity of the arm’s length standards, these cases were compared to other similar transactions. However, it is rare to find two identical cases which meet all the criteria. In both of these cases, the court couldn’t pin point what the actual standards of the arm’s length standards were, giving rise to opportunities of tax evasion. To put the arm’s length standards to a simplest form, the standard requires the two related parties to structure their transactions in such a manner as they would if they were two unrelated parties in similar
Rubini, L. (2010). Microsoft on Trial: Legal and Economic Analysis of a Transatlantic Antitrust Case. Camberley, UK: Edward Elgar Publishing.
[15] John Ribeiro. “Indian law may satisfy EU data protection concerns.” Infoworld. April 21, 2004.
...hir collected were from people who were working in secret so that they would not have to pay any tax to J.T. However Sudhir innocently shared this information with J.T which caused many of the people to be beaten up for trying to evade taxes.
Generally speaking, the legal system didn¡¦t play a very active role in this case. First of all, the India government could do more on digging the truth of the gas leak out and set a more strict standard to regulate such dangerous plants in case that another crisis. Second, I didn¡¦t see any one who worked in the Union Carbide¡¦s Bhopal plant should be responsible for that tragedy. Does it mean that all that the India court wanted was money or it just wanted to reduce trial and subsequent appeals because it might have taken more than twenty years?
Competition law in the European Union has developed from being an uncertain preoccupation of a few economists, lawyers and officials to one of the leading competition law system in the globe. Nonetheless, in agreement with most commentators, there are inherent flaws within the EU Commission’s procedures. This paper aims to provide an account of concerns in the current system, drawing comments from scholars and EU officials in order to demonstrate both benefits and shortcomings of the system. An overview of the legal and policy debate of the current EU Competition enforcement will be presented as the introduction. Policy concerns such as prosecutorial bias and self-incrimination in enforcement powers will be the main subjects for the purpose of this paper, followed by analysis of the EU commission structure, in particular checks and balances and the hearing process, both of which have been claimed being incompatible with the ECHR. A comparison with the US Antitrust system will also be paralleled through out this essay in order to demonstrate a clearer examination. This essay will conclude with the Commission’s flaws that have effected on the upcoming UK competition law reforms.
The following report will analyse Vodafone and their current position in the international market. This report will cover the competitive strategy of Vodafone and their influence of products and services in relation to the demand of the market.
[7] Farrar (1998) chap. 7 [8] Salomon v Salomon [9] Lennards Carrying Co Ltd v Asiatic Petroleum Co.[1915] AC 153 [10] As occurred in Daimler v Continental Tyres [1915] 1 KB 893. [11] As quoted by F. Moghadam in QMWLJ 1 p36. [12] e.g. Gilford Motor Co. v Horne [1933] Ch.935 [13] S.213 [14] S.214 [15] D.H.N Food Distributors v Tower Hamlets L.B.C ([1976] 3 All ER 462) [16] [1983] 3 WLR 492. [17] cf.
"While practically everybody today is a potential mobile phone customer, everybody is simultaneously different in terms of usage, needs, lifestyles, and individual preferences," explains Nokia's Media Relations Manager, Keith Nowak. Understanding those differences requires that Nokia conduct ongoing research among different consumer groups throughout the world. The approach is reflected in the company's business strategy:
No company that falls behind the competition is guilty of standing completely still. But sometimes our efforts fail because of the level of commitment to change.