Page 6 - Cairn Energy

Budget 2020: Scheme on I-T disputes won't cheer Vodafone and Cairn Energy

At present, there are 483,000 direct tax cases pending in various appellate forums i.e. Commissioner (Appeals), ITAT, High Court, and Supreme Court.

Cairn gets 10-year PSC extension for Ravva block in Andhra Pradesh

The extension will enable Cairn and its partners to recover 13 million barrels of oil equivalent

Rs 10,247-cr Cairn retro tax case: Tribunal defers award to mid-2020

The international tribunal was supposed to give an award by February 2019, but in March it delayed it to 2019-end and now to summer of 2020

Will 'reinvest' in India if retro tax issue is resolved: Cairn Energy CEO

Cairn was in 2014 slapped with a tax demand of Rs 10,247 crore over an internal business reorganisation it did of its India business years back

Cairn Energy's legal cost for fighting retro tax demand triples to $23 mn

Cairn in 2015 initiated an international arbitration to challenge the retrospective taxation in India

I-T dept sells Cairn shares to recover part of Rs 102-bn retrospective tax

The I-T dept had in 2014 used a two-year-old retrospective tax law to raise a Rs 102.47 bn demand on alleged capital gains made by Cairn Energy on a decade-old internal reorganisation of its India biz

I-T dept sells more shares of Cairn Energy to recover Rs 102 bn retro tax

Cairn in its half-yearly report announcement on Tuesday reported a loss of $500.5 million

Final hearing in Cairn arbitration against retro tax to begin today

A three-member international arbitration tribunal will begin hearing under the cloud of tax department looking to sell Cairn's remaining shares in Vedanta to recover the tax demand

I-T sells Cairn's $216-mn shares in Vedanta over retrospective tax dues

The tax authorities seized the shares after issuing Cairn with a $1.3 billion bill in 2014 on capital gains it said it had made on a decade-old reorganisation of its Indian business

Income Tax dept seizes Rs 4.4-bn dividend income of Cairn Energy

The action comes ahead of the beginning of the final hearing in the arbitration initiated by Cairn to oppose the retrospective tax demand

Govt not to sell Cairn Energy shares to recover Rs 10,247-cr tax

Cairn Energy holds 5% stake in Vedanta Ltd that the income tax department had attached in January 2014

I-T to attach shares if Cairn Energy fails to pay Rs 10,395 cr tax

Cairn India shares closed at Rs 285.40 on the BSE on Friday

Cairn may lose 9.8% in India unit

UK oil major may also face a penalty of around 300 per cent, amounting to Rs30,000 crore

I-T Dept orders taking away of $104 mn dividend due to Cairn Energy

I-T takes action to recover Rs 10,247 cr retrospective tax from Cairn Energy of UK

FinMin official advised subsidiary to not pay dividends, accuses Cairn

Company has sought explanation from tax authorities on freezing of payments

Setback to India as international panel rejects stay on Cairn arbitration

It debarred Cairn Energy from disposing of its 9.8% remaining stake in Cairn India

Income tax dept to challenge ITAT relief to Cairn Energy in HC

I-T department is also seeking up to 300% of the principal as penalty for non-payment

I-T dept lifts freeze on Cairn Energy payout, but bar on stake sale stays

New Delhi, 8 MarchIn a relief for Cairn Energy, the tax department in India has agreed to lift the freeze on the British oil explorer being paid dividends by its erstwhile subsidiary, Cairn India. However, the company will still not be able to sell the residual stake, pending resolution of the tax dispute with the authorities. The department had last year made a demand of Rs 29,047 crore on Cairn Energy for alleged capital gains on a 10-year-old internal re-organisation of its India unit. And, barred Cairn Energy from selling its residual 9.8 per cent stake in Cairn India, its erstwhile subsidiary which it had in 2011 sold to mining billionaire Anil Agarwal's Vedanta group, during the pendency of the dispute. It later also froze payment of dividend by Cairn India to Cairn Energy. The 9.8 per cent shareholding in Cairn India was originally attached by the tax department in January 2014 and the company continues to be restricted from selling those shares. The demand was challenged by ..

Govt gets 6 more weeks to respond to Cairn Energy arbitration

British oil explorer initiated an arbitration against India regarding Rs 29,047 crore retrospective tax demand

Govt seeks putting Cairn arbitration on hold

Cairn Energy had initiated the arbitration in March 2015 and the three-member arbitration panel had been constituted