-PTI   Within hours of Supreme Court dismissing the review petition in the Vodafone's tax case, government on Tuesday refunded about Rs 2,500 crore plus four percent interest to the firm. When asked, a Vodafone spokesman said "the money has been refunded--Rs 2500 crore plus four per cent interest". Earlier, Law Minister Salman Khurshid told reporters that the government would have to repay the money. "To curative petition to my knowledge ... I suppose...

The Supreme Court dismissed the government’s review petition in the Vodafone tax case on Tuesday, affirming its January ruling that put overseas transfers of shares outside the Indian tax net. The review petition and last week’s budget proposals seeking retrospective changes have revived the uncertainty over tax laws, according to government officials, the Planning Commission and businesses. If Parliament passes the budget in its current form, the judgement in the Vodafone case...

-The Economic Times   The Supreme Court has declined to reconsider its ruling that the tax authorities had no jurisdiction to tax Vodafone's offshore acquisition of its Indian mobile unit, handing what could be a pyrrhic victory to the telecom major. The tax demand, government officials familiar with the case said, could be revived once the provisions in the Union Budget seeking to tax overseas deals are approved by Parliament later this...

-The Telegraph Guwahati may be waiting for its Mercedes Benz debut but the state’s poor have become poorer in the past five years, with Assam and four other states of the Northeast recording a rise in poverty levels, Planning Commission figures revealed today. Assam now has 116.4 lakh persons living below the poverty line, Manipur 12.5 lakh, Meghalaya 4.9 lakh, Mizoram 2.3 lakh, Tripura 6.3 lakh, Nagaland 4.1 lakh and Arunachal Pradesh...

Finance Minister Pranab Mukherjee maintained on Sunday that the budgetary proposal to amend the Income Tax Act with retrospective effect from 1962 to assert the government's right to levy tax on Merger and acquisition (M&A) deals involving overseas companies with business assets in India is not Vodafone “case specific,” but an enabling provision to protect the fiscal interests of the country and avert the chances of a crisis. Faced with all-round...