Central Board of Direct Taxes (CBDT) Chairman PC Mody on February 2, has confirmed that the Centre has moved the Singapore court against an arbitration tribunal’s award to Vodafone.
The government was examining the ‘Cairn order’ related to the retrospective amendment of tax laws, Mody told Times of India.
“How can the arbitration award be contrary to the law that is there? It is their interpretation and we believe there is a case against appeal,” Mody told TOI. He further added, “Can a bilateral treaty take away the taxation rights of a jurisdiction? That is the larger question.”
He seemed to have hope about gathering the direct tax collection target, contending that an improvement in the monetary movement just as a redo of the duty administration will help.