â¹7900cr penalty levied on CK Hutchison unit on Vodafone deal
The Income Tax Department has imposed â¹7,900 crore penalty on tax demand of the same amount on a unit of billionaire Li Ka-shing's CK Hutchison Holdings. The tax demand and penalty is over its decade-old sale of mobile phone business in India to Vodafone Group. CK Hutchison Holdings, however, said its unit continues to dispute the validity of those taxes.