Profit This Week: Reliance disappoints, Vodafone wins case and more

In a landmark judgment, the Supreme Court ruled that the I-T department has no jurisdiction to tax Vodafone's acquisition of Hutchison's India assets calling it a bonafide FDI deal - setting a precedent to other such cases. The cabinet is considering to allow upto 49 per cent investment by foreign carriers in domestic airlines. Meanwhile, power Companies have taken their worries to the nations' top office. Inflation in December too fell down to a 2 year low of 7.47% while RIL disappointed with a profit fall of 13.5 per cent.