Income tax department withdraws ₹8,500-crore transfer pricing case against Vodafone

In a surprise move, the Income Tax Department withdrew its long-pending ₹8,500-crore transfer pricing case against Vodafone India Services Pvt. Ltd. on Monday. The commissioner of income tax filed a plea to drop the case before a bench led by Chief Justice B.R. Gavai, which permitted the department to do so.

According to the Supreme Court’s website, the matter had been pending since 2016 and was last listed for hearing in April 2017, but had seen no progress since then.