I-T dept orders recovery of â¹10,200 crore in Cairn tax row
The Income Tax department has ordered coercive action against Cairn Energy to recover â¹10,247 crore of retrospective tax. This follows an international arbitration panel deciding not to entertain a plea by the UK oil firm seeking injunction against such action. The department will now move to take over the 9.8% Cairn Energy shareholding in Cairn India, reports said.