Moneycontrol Be a Pro
Get App
Last Updated : Apr 07, 2015 08:18 AM IST | Source: CNBC-TV18

Cairn India to move Delhi HC against Rs 20,000 cr tax case

The taxman has alleged that the company did not pay capital gains tax when shares changed hands during an internal group restructuring in fiscal year 2007.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Even as the government talks tough, Cairn India’s tax litigations due to the retrospective amendment of the Section 9 of the Income Tax Act continue to pile up. The company has decided to move the Delhi High Court against the Rs 20,000 crore tax notice.


The taxman has alleged that the company did not pay capital gains tax when shares changed hands during an internal group restructuring in fiscal year 2007.

The restructuring was done to facilitate the Cairn India IPO. The company had earlier stated that it does not agree with the tax notice.

Close


LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.
First Published on Apr 6, 2015 06:45 pm
Loading...
Follow us on
Available On