The tax battle between British oil major Cairn and the government is set to get murkier, with the income tax (I-T) department considering appealing in a high court against a tax tribunal’s order giving Rs 18,800-crore interest relief to the company.
The department is also mulling the imposition of a penalty on Cairn in the range of 100-300 per cent, as the Edinburgh-based company missed the opportunity to get it waived under the dispute resolution scheme that closed on January 31.
Credit By: business-standard.com
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