Government Of India Vs Cairn Energy Standoff. 10 Points About It

Cairn received a notice from India's 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 transferred had about 10 per cent shares of Cairn India Holdings to Cairn India. In March 2015, the Income Tax department had contended that Cairn UK made a capital gain of Rs 24,503 crore in the internal reorganisation. The co...