Tax Cloud Over Cairn Energy
  • Prabha Hedge
  • Jan 28 2014

January 28: According to reports the Income Tax Department has assessed that Cairn UK did not pay tax on Rs.24,500 crore of capital gains made when it transferred its India assets to a new company. The U.K. based company had transferred its entire India business from subsidiaries incorporated in Jersey, to Cairn India in 2006.