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of <h1>CBDT Accepts Bombay HC Ruling: Share Premium Not Income, No Transfer Pricing Adjustments for Vodafone India 2009-10.</h1> The Central Board of Direct Taxes (CBDT) has accepted the Bombay High Court's decision regarding Vodafone India Services Pvt. Ltd. for the assessment year 2009-10. The court ruled that the premium on share issuance is a capital account transaction, not generating income, and thus not subject to transfer pricing adjustments. Field officers are instructed to apply this legal principle in relevant cases. This directive is to be communicated to the Income Tax Appellate Tribunal, Dispute Resolution Panels, and Commissioners of Income Tax (Appeals). The instruction is issued with the approval of the CBDT Chairperson.
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