Supreme Court of India holds that offshore transaction between Vodafone and Hutchison is not liable to taxation in India

On January 20, 2012, the Indian Supreme Court delivered its judgment in the landmark case of Vodafone International Holdings B.V. The case related to India’s ability to tax capital gains arising to a non-Indian company on the sale of another non-Indian company owning Indian assets. The Supreme Court held that the transaction was not taxable in India.