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Vodafone notice on arbitration premature: Govt
The government has replied to Vodafone’s notice that threatened international arbitration, saying there was no cause of action. It may send a reply and a tax notice to the company after the Finance Act is notified in the official gazette. “We have replied to Vodafone saying there is no cause of action because no law had been amended...It is premature on behalf of Vodafone,” said a

Taxing philosophy

Finance Minister Pranab Mukherjee appears to have taken note of India Inc's howls of protest at the aggressive tax regime that was announced in his latest Budget via retrospective amendments to law

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Tax cases settled before April 1 won't be reopened: Mukherjee
In a bid to soothe investors' concerns over retrospective amendments to tax laws, Finance Minister Pranab Mukherjee Wednesday said the government would not reopen the cases finalised before April 1, 2012.

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Kingfisher Airlines' accounts frozen: Reports
Giving a major blow to the cash-strapped Kingfisher Airlines, the Income Tax department (I-T) on Tuesday reportedly froze its bank accounts over part payment of dues.

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Sahil Peerzada summoned by I-T dept
The Income Tax (I-T) department on Tuesday said it has summoned businessman Sahil Peerzada to scrutinize his tax returns and business deals.

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FM to inaugurate new Income Tax building
New Delhi, May 29 (IBNS) Union Finance Minister Pranab Mukherjee will inaugurate the biggest office building of the Income Tax Department in India on Wednesday.

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