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I-T seeks Rs 30,000-crore penalty from Cairn for non-payment of tax

I-T seeks Rs 30,000-crore penalty from Cairn for non-payment of tax

Thursday, April 20, 2017, 4:00 PM

The Income Tax Department has slapped a fresh notice on British firm Cairn Energy, seeking up to Rs 30,700 crore in penalties for its alleged failure to pay Rs 10,247 crore capital gains tax on time. Senior tax department officials said Cairn Energy has sought 10 more days to reply to the show cause seeking levy of penalty.
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