Cairn India under income tax lens over share sale Eight years after Cairn India listed on the stock exchanges, the income-tax department is probing the transfer of assets by the oil & gas producers UK parent, Cairn Plc, to the Indian entity. The investigation, which is based on the controversial retrospective amendment introduced in the 2012 budget, is likely to reinforce the reputation of heavy-handed tax enforcement which the Indian tax authorities have come to acquire among foreign investors.
Posted on: Thu, 23 Jan 2014 06:12:15 +0000
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