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Articles for Cairn, search results for law

Cairn ‘fulfils’ retro tax repeal steps, awaits ₹7,900 crore refund
2 years, 10 months ago

Cairn ‘fulfils’ retro tax repeal steps, awaits ₹7,900 crore refund

The Hindu  

U.K.’s Cairn Energy on Tuesday said it has complied with all rules of the retro tax repeal law to now become eligible for about ₹7,900 crore refund of taxes that were collected from it to enforce a retrospective tax demand. As part of the settlement reached with the government in the seven-year-old dispute over the levy of back taxes, the …

Refund Retrospective Tax
New York court pauses tax suit to allow Cairn to settle dispute with India
3 years, 2 months ago

New York court pauses tax suit to allow Cairn to settle dispute with India

Firstpost  

This follows Cairn Energy and Air India jointly asking the court to stay further proceedings in view of the fresh government enacting a fresh law to scrap retrospective taxation in the country A New York court has paused Cairn Energy’s pursuit of US assets of Air India for the recovery of USD 1.2 billion arbitral award, so as to allow …

India Tax Court Indian Air New York Crore
Explained | Why is retrospective tax being scrapped?
3 years, 4 months ago

Explained | Why is retrospective tax being scrapped?

The Hindu  

The story so far: On Thursday, Finance Minister Nirmala Sitharaman introduced the Taxation Laws Bill in the Lok Sabha to nullify the tax clause provision that allows the government to levy taxes retrospectively. In January 2012, India’s Supreme Court backed Vodafone, ruling that indirect transfer of shares to a non-Indian company would not attract tax in India. Separately, in 2006-07, …

Finance India Netherlands Indian International Arbitration Bill Vodafone
Centre moves to redact retrospective tax law
3 years, 4 months ago

Centre moves to redact retrospective tax law

The Hindu  

The government on Thursday took the first step towards doing away with the contentious retrospective tax law of 2012, which was used to raise large tax demands on foreign investors like Vodafone and Cairn Energy, and blamed for vitiating India’s investment climate — less than a month after Cairn Energy secured an order from a French court to freeze India’s …

India Energy Tax Law Cases Indian Vodafone Retrospective
Voda Tax Case: India Files Application in Singapore High Court Against Arbitration Panel Verdict
3 years, 10 months ago

Voda Tax Case: India Files Application in Singapore High Court Against Arbitration Panel Verdict

News 18  

New Delhi: India has challenged in the Singapore High Court an international arbitration tribunal's verdict that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc, and the order passed in Cairn Group's case is under consideration of the government, Parliament was informed on Monday. An international arbitration court had in September last year rejected tax …

India Singapore Arbitration Tax Vodafone Thakur Voda
India’s retrospective taxation blunder is still extracting heavy costs
3 years, 11 months ago

India’s retrospective taxation blunder is still extracting heavy costs

Hindustan Times  

A retroactive law is truly a monstrosity. The tribunal reasoned that India’s decision to retroactively apply the law, without a specific justification, created a new tax burden on a transaction that was not taxable at the time it was carried out, ie. in 2006 In 2012, India amended the Income Tax Act retroactively to overturn the Supreme Court’s decision favouring …

Law India Tax Tribunal Amendment Nda Vodafone
Cairn Energy wins tax arbitration against India: What the case is all about
4 years ago

Cairn Energy wins tax arbitration against India: What the case is all about

Business Standard  

India lost the Cairn arbitration case.The case was related to the retrospective tax amendment law and the verdict came late night Tuesday. Cairn received a notice from the income tax department in January 2014, raising a preliminary assessment of Rs 10,247 crore tax liability relating to the group reorganisation done in 2006, when Cairn UK transfered about 10 per cent …

India Tax Cairn India Cairn Arbitration Energy Wins