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Tag: cairn
I-T Dept slaps Rs 29k cr tax demand notice on Cairn Energy
2016-03-16 03:06:57| Energy - 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.
Tags: notice
energy
tax
demand
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.
Tags: notice
energy
tax
demand
Budget 2016: Contentious tax issues, opportunity for Cairn, Vodafone
2016-03-01 05:45:55| Telecom - Topix.net
The government claims that Vodafone should have deducted capital gains tax when it made the USD 11 billion payment to Hutchison while purchasing its India assets. The government on Monday offered a one-time settlement to foreign investors to settle long pending tax disputes.
Tags: issues
opportunity
tax
budget
Cairn Energy in Shetland deal as Ian Suttie puts First Oil Expro into administration
2016-02-23 16:52:40| Oil & Gas - Topix.net
CAIRN Energy has said it expects to make plenty of money East of Shetland after acquiring an additional interest in the giant Kraken field for a nominal cash payment from First Oil Expro, which has gone into administration. Tycoon Ian Suttie placed Aberdeen-based First Oil Expro into administration on Friday after failing to find a buyer for the firm, which faced big challenges amid the crude price slump.
Tags: into
energy
administration
deal
Cairn Energy starts $600m action against Indian government as tax...
2016-01-20 05:23:57| Energy - Topix.net
CAIRN Energy has said it wants $600 million damages from the Indian Government as a tax dispute drags on amid the crude price plunge while highlighting the progress it has made off Scotland and West Africa. The Edinburgh-based firm has started formal proceedings to get compensation for the sharp fall in the value of its remaining holding in the Cairn India business since the country's government launched a $1.6bn tax claim against it two years ago.
Tags: action
government
energy
tax
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