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Retrospective tax demand News

Income Tax department

11 Sep 2018

Income Tax Dept sells more shares of Cairn Energy to recover retro tax

Cairn in its half-yearly report announcement Tuesday reported a loss of USD 500.5 million as a result of the de-recognition and loss of financial assets in India.

25 Dec 2016

Companies must drop retro tax cases to avail settlement scheme: CBDT

Vodafone, Cairn Energy and other firms facing retrospective tax demand will have to withdraw legal cases and give up the right to contest constitutional validity of back-dated amendment to I-T laws if they want to avail of the dispute resolution scheme ending on December 31.

06 Nov 2016

Cairn writes to Modi seeking resolution to Rs 29,047 crore retrospective tax demand ahead of UK PM's visit

Cairn writes to Modi seeking resolution to Rs 29,047 crore retrospective tax demand ahead of UK PM's visit

British oil explorer

19 Oct 2016

Retrospective tax demand: Govt seeks putting Cairn arbitration on hold

Government has sought putting on hold the arbitration initiated by British oil explorer Cairn Energy against a Rs 29,047 crore retrospective tax demand and instead wants a parallel arbitration initiated by Vedanta Resources to be taken up first.

12 Jul 2016

Cairn Energy seeks $5.6 billion compensation from India for raising retrospective tax demand

British explorer Cairn Energy has sought USD 5.6 billion in compensation from the Indian government for raising a retrospective tax demand of Rs 29,047 crore on 10-year old internal reorganisation of its India unit.

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