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Cairn tax News

Cairn Energy Plc

08 Jun 2017

Cairn approaches international panel for injunction against I-T dept

Cairn Energy plc has approached an international arbitration panel seeking an injunction against Indian income tax department initiating proceedings to recover Rs 10,247 crore in retrospective tax.

26 Apr 2017

Setback to India: International panel rejects stay on Cairn arbitration

The panel, comprising three judges of international repute, has also turned down India’s application for bifurcation of the issue of whether tax is covered under India-UK bilateral investment protection treaty.

20 Apr 2017

I-T seeks Rs 30K crore penalty from Cairn for non-payment of tax

Senior tax department officials said Cairn Energy has sought 10 more days to reply to the show cause seeking levy of penalty.

14 Jan 2016

Cairn seeks removal of retrospective tax law

Cairn Energy plc has asked Finance Minister Arun Jaitley to do away with the legislation in the Budget next month to restore faith of international investors in India.

09 Jan 2016

British MP nudges Jaitley on Cairn Energy tax dispute

In January 2014, Cairn was slapped with a Rs 10,247 crore assessment notice.

12 Aug 2015

Cairn seeks quick resolution to tax row

As the government grapples with its arbitration notice against a Rs 10,247 crore tax demand, British oil explorer Cairn Energy has said a quick judicial resolution to the issue will help restore confidence of retrospective tax-rattled international investors.

Income Tax department

28 Jun 2015

Govt rejects Cairn's arbitration on tax dispute

The government has rejected Cairn Energy UK's plea for an arbitration over Rs 10,247-crore tax dispute saying taxation is not covered under the UK-India Investment Promotion and Protection Treaty.

Income Tax department

16 Jun 2015

I-T dept to defend Rs 20,495-cr tax claim on Cairn India

The Income Tax Department will defend the Rs 20,495-crore tax claim it has made on Cairn India even after the company is merged with its parent Vedanta Ltd.

29 Apr 2015

Rs 20K crore tax calculated on wrong principles: Cairn to HC

Cairn India on Wednesday told the Delhi High Court that the Rs 20,495 crore demand slapped on it by the Income Tax department has been calculated on "wrong" principles and it would come to around Rs 5000 crore.

24 Mar 2015

Cairn Energy seeks compensation from India on tax demand

I-Tax Department says Cairn Energy allegedly made a capital gain of Rs 24,503.50 crore in 2006 while transferring all its India assets to a new company, Cairn India.

17 Mar 2015

Cairn's tax liability credit negative for Vedanta: Moody's

I-T Department has slapped a Rs 20,495 crore tax demand on Cairn India Ltd for allegedly failing to pay taxes on gains made by Cairn Energy eight years ago.

14 Mar 2015

Cairn tax demand has not reduced investors' enthusiasm:Jaitley

Finance Minister Arun Jaitley today rejected suggestions that the huge retrospective tax demand on Cairn India has overshadowed enthusiasm in the Indian economy and said it is a "legacy" issue that has to be sorted through legal process.

13 Mar 2015

Cairn tax case won't derail investor confidence in India: UK

A minister in the UK Treasury has said that the dispute surrounding the USD 1.6 billion tax bill imposed on Scottish oil major Cairn Energy by Indian authorities will not affect UK investor confidence in India.

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