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I-T Dept slaps Rs 29k cr tax demand notice on Cairn Energy

2016-03-15 22:43:20| Oil & Gas - Topix.net

Cairn, against whom the I-T Department had on January 22, 2014 issued a draft assessment order of Rs 10,247 crore on alleged capital gains it made in a 2006 reorganisation of its India business, was last month issued a final assessment order. "The assessment order is in the amount of Rs 10,247 crore plus interest back dated to 2007 totalling Rs 18,800 crore and any recovery by the Indian authorities would be limited to such assets," it said.

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