Cairn Energy challenges IT departments claim
Sai Nikesh | The Dollar Business The United Kingdom based oil exploring company Cairn Energy on Wednesday challenged the Indian Tax Department’s claim on the company to pay a tax of more than $ 1.6 billion. Condemning the demand from the tax department, the company was said to have filed a formal dispute under UK-India Investment Treaty, according to the reports. When The Dollar Business sought clarification on whether the issue would impact the India-UK bilateral relationship, Adish C Aggarwala, Chairman, All India Bar Association, said, “This issue will not have any impact on the bilateral trade between the two countries.” However, the bilateral trade is an equal requirement for both the economies and there is a responsibility on both ...
