Indian Income Tax Department’s Rs 20,000 crore demand disrupts Cairn merger

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Indian Income Tax Department’s Rs 20,000 crore demand disrupts Cairn merger

Joe Stanley-Smith
June 18 2015

The Indian Income Tax Department (ITD) has decided to pursue a Rs 20,495 crore ($3.2 billion) tax case against Cairn India, jeopardising the company’s proposed reverse merger with parent company Vedanta, the Central Board of Direct Taxes (CBDT) has confirmed.

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Joe Stanley-Smith
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Joe manages ITR’s online and print coverage, and the publication’s events worldwide. He covers a range of tax issues affecting multinational corporations, particularly indirect tax matters and case studies.
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