‘Cairn dispute can’t be settled via Vivad se Viswas scheme’
April 06, 2021
Pramod Chandra Mody, Chairman, Central Board of Direct Taxes - Bijoy Ghosh×
Says scheme receives over 1.48 lakh declarations and over ₹54,000 crore
The tax dispute with Cairn Energy Plc cannot be brought under the Vivad se Viswas scheme, a senior Income Tax Department official has clarified.
“The scheme is closed now. Whosoever wanted to avail himeself of the scheme, has done so,” Pramod Chandra Mody, Chairman, Central Board of Direct Taxes (CBDT), told
BusinessLine.
The last date to make a declaration under the scheme was March 31, while payment of disputed tax without any additional amount (as prescribed under the scheme) can be made till April 30. The Department has received over ₹54,000 crore under the scheme as payment against disputed tax.
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February 28, 2021
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The Union government has decided to further extend the term of the Chairman of Central Board of Direct Taxes (CBDT), Pramod Chandra Mody, by three more months.
This is the third extension for Mody. The CBDT is the apex policy-making body for Income Tax and works under the Finance Ministry. Mody’s extension came a day after his reporting head Ajay B Pandey (designated Finance Secretary and holding charge of the Revenue Department) was denied extension on his superannuation.
Mody is a 1982 batch Indian Revenue Service (Income Tax) officer. He became Chairman on February 14, 2019. He was to retire on August 31, but was given a year’s extension till August 31, 2020. He goy a second extension for six months that was scheduled to end on Sunday.
Cairn Plc hopeful of acceptable solution on arbitration award matter thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
It also affirms to challenge other related suits
Within hours of meeting between Finance Secretary Ajay B Pandey and Cairn Energy Chief Executive Office Simon Thomson, Government affirmed that it would not just file an appeal against the arbitration award but also contest other related legal suits.
“The Govt will file an appeal against Cairn Arbitration award soon and will contest its sovereign rights to tax,” a Government source said on Friday. Further, he mentioned that it would also strongly contest other suits filed by Cairn Energy at various other international courts.
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This is the second arbitration an award where Government will move to the appellate forum. Earlier, the Government appealed against the award given in favour of Vodafone.