Official sources said the notice under section 201 and 220 (2) of the I-T Act, which talks about simple interest at one and a half per cent for every month the tax demand was raised, will also explain the retrospective amendment made by the government for taxing business deals that avoids tax in the country by showing them in a tax haven.
Vodafone had said in a statement on Wednesday, "We are naturally disappointed that, despite very widespread concern
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'Retrospective amendment to I-T Act not to impact FDI'