Certain news reports appearing recently in newspapers have presented a distorted version of facts that led to the Government’s proposal to withdraw from the conciliation measures initiated earlier with Vodafone International Holdings B.V.(Vodafone). Department of Revenue, Ministry of Finance, Government of India would like to assert the correct factual position and the circumstances in which a proposal was moved before the Cabinet seeking to withdraw the conciliation offer. The sequence of events is as under:  On 28th February, 2014, the Cabinet deferred consideration of a proposal of the Department of Revenue to withdraw from the conciliation talks with Vodafone and advised that efforts be made towards expeditious adjudication of the transfer pricing dispute with Vodafone India Services Private Limited in the Income Tax Appellate Tribunal (ITAT).