I-T Dept seizes â¹440 crore dividend income of Cairn Energy
The Income Tax Department has seized â¹440 crore of dividend income due to UK-based Cairn Energy to recover â¹10,247 crore retrospective tax demand. The department previously seized â¹666 crore of dividends due to Cairn from its 4.95% residual holding in Vedanta. The final hearing in the arbitration initiated by Cairn to oppose the tax demand will begin in August.