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Tax dept slaps fresh demand note of Rs 10,247 cr on Cairn
Monday, April 10, 2017, 9:30 AM
Within weeks of tax tribunal ITAT upholding levy of retrospective tax, the Income Tax Department has slapped a fresh demand note of Rs 10,247 crore on British explorer Cairn Energy Plc. ITAT in its March 9 order held that Cairn Energy was liable to pay tax on the 2006 transfer of India assets to newly created Cairn India, prior to its listing.
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