Feb 7 Vodafone Group Plc said on
Thursday it has received a transfer pricing order in India over
the issue of shares by its unit Vodafone India Services Private
The order is linked to a transfer pricing dispute in the
fiscal year ended March 2008, which Vodafone has challenged
before the Dispute Resolution Panel of the Indian income tax
department, it said in a statement.
"As this latest order relates to a share subscription, and
share subscriptions are not covered by transfer pricing rules
either in India or internationally, we will be challenging the
order as it has no basis in law," it said.
Transfer pricing is the value at which companies trade
products, services or assets including shares between units,
mostly the parent company, in different countries.
Vodafone, the largest corporate investor in India, has
repeatedly clashed with Indian authorities over taxes since it
bought Hutchison Whampoa's local mobile business in