Cairn Energy seeks compensation from India on tax demand

Last Updated: Tuesday, March 24, 2015, 13:52

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.

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

Last Updated: Tuesday, March 17, 2015, 14:37

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.

Cairn tax demand has not reduced investors' enthusiasm:Jaitley

Last Updated: Saturday, March 14, 2015, 20:28

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.

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

Last Updated: Friday, March 13, 2015, 23:26

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.

Cairn India gets Rs 20,495 cr tax notice from I-T Department

Last Updated: Friday, March 13, 2015, 17:22

Income Tax Department has slapped a Rs 20,495 crore tax demand on Cairn India Ltd for allegedly failing to pay taxes on gains made by its former parent in a share transfer transaction about eight years ago.

Cairn Energy Plc shares tank over 18% on tax notice in India

Last Updated: Wednesday, March 11, 2015, 16:02

Shares of Scottish oil explorer Cairn Energy Plc fell sharply by over 18 percent on the London Stock Exchange after the company yesterday received a tax demand of Rs 10,247 crore (USD 1.6 billion) from Indian authorities.

I-T Dept slaps $1.6 bn tax demand on Cairn Energy Plc

Last Updated: Tuesday, March 10, 2015, 23:09

Income Tax Department Tuesday slapped a Rs 10,247 crore (USD 1.6 billion) tax demand on Cairn Energy Plc, which termed the action as "very disappointing" and said it would contest the order.

Cairn reduces yearly losses, plans more Senegal wells

Last Updated: Tuesday, March 10, 2015, 13:09

Cairn has been unable to sell the 10 percent share it holds in Cairn India, worth around $703 million at the end of the year.

Cairn Energy lays off 40% staff following India tax dispute

Last Updated: Monday, February 23, 2015, 15:26

Cairn has laid off 100 employees across the board as a cost cutting measure, company sources said.

CBDT asks officials not to pursue Vodafone-type tax cases

Last Updated: Thursday, January 29, 2015, 19:53

The Tax Department on Thursday asked its field officers not to pursue transfer pricing cases similar to Vodafone's, a move being seen as a major relief to multinationals fighting such cases involving tax demands of thousands of crores of rupee.

Cairn Energy plc says fully tax compliant

Last Updated: Friday, January 31, 2014, 14:02

Facing a potential tax demand on an alleged Rs 24,500 crore of capital gains it made on transferring India assets to a new company, Scottish explorer Cairn Energy plc Friday said it was fully compliant with the tax legislation in force when it operated in the country.