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Vodafone verdict: Impact on Cairn unlikely, basis of scrutiny distinct

Cairn is awaiting its own arbitration award for which the final hearings concluded way back in 2018

cairn, oil and gas
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The Delhi income tax wing, which had frozen Cairn Plc’s holding in Vedanta that is now heading for delisting from the BSE, has sold off 181,764,297 shares and also clawed dividend income

Jyoti Mukul New Delhi
Cairn Plc that has been in a protracted dispute over retrospective tax with the central government is cautious after last week’s Vodafone arbitration award. The Vodafone award could have had a bearing on its case, if hearings had not concluded. 

The UK-based company is awaiting its own arbitration award for which the final hearings concluded way back in 2018. 

Tax experts, however, claimed that the income tax department treated the Vodafone and Cairn cases separately since the latter’s tax scrutiny was due to internal ownership reorganisation, unlike the British telecom major’s case. 

Another person in the know said the government

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First Published: Sep 28 2020 | 6:06 AM IST

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