Voda-Case..!!

(Courtesy: post.jagran.com)

Always it has been, and will always be, the departments in India are never sorted, whether it comes to arranging the messy files on their tables or tricking big buddies in taxation. And, this one, especially is a real brainer. It gets you on your heels and makes you think!

Hutchinson group of companies, a telecom giant with its market operations in a number of nations, was carrying out its Telecom operations in India. Then, another company, Vodafone Essar, acquired 67% stake in Hutchinson group of companies through a number of companies in Netherlands and Cayman Islands. Now, the appeal of the income tax commission is that "Hutchinson group" being an Indian company, the transfer of its any assets should constitute as a tax revenue for the government. But a big fallacy lies in this argument, which we're going to try to point out to you! 

The shares of the company are defined as the share in the share capital of the company, which includes stock except when a distinction between shares and stock is expressed and implied.