Cairn Energy News
In 2012, the UPA government imposed a tax on sale of assets, retrospectively on Cairn. The UK firm contested the demand, saying all taxes due were duly paid at the time of its reorganisation in 2011
In a statement, Vedanta said it has used a recently enacted law to settle the tax dispute. As conditions for the same, it has withdrawn all legal challenges against the government and given an undertaking to forego all future rights pertaining to the tax demand
Nirmala Sitharaman introduced 'The Taxation Laws (Amendment) Bill, 2021'to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets
Revenue maximization can never be the goal of economic policy. It ought to be prosperity and not a bloated exchequer at the expense of intimidated wealth creators.
A three-member international arbitration tribunal that consisted of one judge appointed by India had unanimously in December overturned levy of taxes on Cairn retrospectively and ordered refund
Cairn also plans to move courts in the US and Singapore to seize the assets in face of the Centre's refusal to honour an international arbitration award
Cairn tax dispute: Hopeful of reaching resolution on $1.4 billion arbitration award with Centre, says company
The company held three rounds of talks with top finance ministry officials in an attempt to resolve the issue without having to resort to seizing Indian assets overseas
Nissan settles dispute with Tamil Nadu over unpaid dues, damages; begins process to withdraw international arbitration: Report
The dispute arose after Nissan said Tamil Nadu hadn’t paid certain incentives under a 2008 agreement to set up a car plant in the southern state.
Vodafone Idea presses for Rs 7,000 cr tax refund; Income Tax Department hesitant in view of fresh liability
Sources said Vodafone has to receive an aggregate of about Rs 1,000 crore from Mumbai unit of the Income Tax department and another Rs 6,000 crore from its Delhi office for multiple assessment years dating back to 2004-05
Arbitration Tribunal delays Rs 10,247 cr award in Cairn retro tax case to mid-2020; no reasons given for delay
Cairn said it is seeking full restitution for losses totalling more than $1.4 billion resulting from government expropriation of its investments in India in 2014.
Coca-Cola said Chaturvedi, who joined the company in 2012 as National Head - Human Resources as part of HCCB, has risen through the ranks within the compnay
Final hearing in British oil firm Cairn's arbitration against retro tax of Rs 10,247 crore to begin today
India in April submitted its final rejoinder to Cairn's claim for full restitution for losses resulting from the expropriation of its investments in India in 2014 and continued attempts to enforce retrospective tax measures.
I-T Department sells part of Cairn shares in Vedanta to recover part of Rs 10,247 cr retrospective tax
The income tax department has sold roughly 40 percent of Cairn Energy plc's shareholding in Vedanta to recover a part of the Rs 10,247 crore retrospective tax it had raised against the British firm
Apple acknowledges swelling of iPhone 8 and iPhone 8 Plus and says that they are looking into the problem
iPhone 8 and 8 Plus went on sale on 22 September. Apple was yet to release figures for the early sales of iPhone 8 and 8 Plus.
Cairn initiated arbitration against the government using a new law that gave it powers to impose taxes retrospectively, to slap a tax demand of Rs 10,247 crore on a decade old internal reorganisation of its India unit
Cairn's case is that none of the 2006 transactions was taxable in India according to the law in force at the time,
I-T order follows an international arbitration panel last week deciding not to entertain a plea by Cairn Energy seeking injunction against the coercive action to recover the tax
The Income Tax Act provides for penalties of 100 percent to 300 percent of the tax due, the official said, adding that the notice sent does not mention of the quantum of penalties the tax department is seeking.
ITAT held that Cairn Energy was liable to pay the tax on share transfer it did through an internal reorganisation of its India business in 2006, prior to getting Cairn India listed on stock exchanges
Britain's minister for international trade Liam Fox, during his bilateral meeting with Commerce and Industry Minister Nirmala Siatharaman, flagged the Cairn Energy and Vodafone issues, demanding they be resolved expeditiously.