Supreme Court upholds Gujarat HC relief to Vodafone Idea, strikes down Rs 7.64 cr stamp duty penalty :-ET

 The Supreme Court supported the Gujarat High Court's decision. It cancelled a Rs 7.64 crore penalty on Vodafone Idea Telecom. The penalty was imposed by Gujarat's stamp department. The High Court found the penalty disproportionate. The case originated from a merger scheme. Vodafone Idea transferred its fiber infrastructure to Vodafone Idea Telecom. The stamp duty assessment led to the penalty.