Vodafone International Holdings BV had invoked Clause 9 of the Bilateral Investment Treaty (BIT) signed between India and the Netherlands to challenge the retrospective amendment to tax capital gains of Rs 22,100 crore. In a unanimous decision, the Permanent Court of Arbitration at The Hague has held that the retrospective demand was “in breach of the guarantee of fair and equitable treatment”. The court has also asked India not to pursue the tax demand any more against Vodafone Group.