Montek Singh Ahluwalia indicates Vodafone dispute will be resolved soon

Montek Singh Ahluwalia indicates that there is a high possibility that the $2-billion Vodafone tax dispute will be resolved soon.

He said that the finance minister P Chidambaram is working towards the resolution.

“The Finance Minister is in negotiations to come up with a reasonable compromise and there is a good chance we can put this behind us for good,” Planning Commission deputy chairman said in London.

He said that Vodafone had taken a calculated risk.

“The Vodafone case did not do us any favours. My personal view is that they knew very well that it (Vodafone’s purchase of the Indian operations of Hutchinson Whampoa in 2007) was chargeable to tax, but they decided to take a calculated risk,” PTI quoted him.

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