I-T dept to attach shares if Cairn doesnât pay â¹10,300 crore
Income Tax Department has issued a notice seeking to takeover Cairn Energy's 9.8% stake in its former subsidiary Cairn India to recover â¹10,395 crore in retrospective tax demand. The I-T department gave Cairn Energy 15 days to repay or face attachment of shares. Earlier, Cairn Energy lost an appeal against the retrospective tax demand in the Income Tax Appellate Tribunal.