SC to rule on Vodafone tax case Friday

The Supreme Court of India will issue a verdict on Friday on Vodafone's appeal challenging a $2.2 billion tax bill over its acquisition of mobile assets in the country, the court's website showed, in a case keenly watched by foreign investors in Asia's third-largest economy.

Vodafone, fighting the tax bill in India over its 2007 purchase of Hutchison Whampoa Ltd's Indian mobile business, had appealed to the Supreme Court challenging a lower court order that Indian tax authorities had jurisdiction over tax bills in cross-border deals.