Vodafone Idea Limited (Vi) (NSE: IDEA, BSE: 532822) has received an order under Section 271G of the Income Tax Act, 1961, imposing a penalty of ₹10.79 crore. The order, issued by the Addl./Jt. Commissioner of Income Tax, Faceless Penalty Unit, Assessment Unit, alleges that the company did not furnish requisite information or maintain adequate documentation for inter-company transactions, as per transfer pricing provisions, for Assessment Year 2020-21.
Vodafone Idea, in a filing with the stock exchanges, stated that it disagrees with the order and intends to file appeals and a stay application.
Pankaj Kapdeo, Company Secretary of Vodafone Idea Limited, confirmed the receipt of the order and the company’s intention to appeal in the filing.
Vodafone Idea’s decision to appeal the Income Tax penalty signals the beginning of a legal challenge and highlights the ongoing scrutiny of inter-company transactions and transfer pricing compliance.
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Published on: March 9, 2025 at 10.30PM GMT.
Preparations Underway for Gaganyaan-1 Mission
The Indian Space Research Organisation (ISRO) is preparing for the Gaganyaan-1 mission, the first uncrewed test flight of its human spaceflight program. Scheduled for March 2025, the mission will carry the humanoid robot Vyommitra aboard a human-rated LVM3 rocket from the Satish Dhawan Space Centre. This mission marks a significant step toward India’s goal of achieving crewed space missions.
As stated in Bhagavad Gita : (Bhagavad Gita 4.7)
यदा यदा हि धर्मस्य ग्लानिर्भवति भारत।
Whenever there is a decline in righteousness and an increase in unrighteousness, O Bharata, at that time I manifest Myself.
