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Why India continues to fight the Vodafone, Cairn Energy retrospective tax battles


Why India continues to fight the Vodafone, Cairn Energy retrospective tax battles
Why India continues to fight the Vodafone, Cairn Energy retrospective tax battles
While two recent international decisions against India’s retrospective taxes tell one story, there is another side which ought not to be ignored.
Manu Sanan 10 March, 2021 2:50 pm IST
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Among the many fiscal challenges India faces this budget season, one relates almost entirely to how the law is read on retrospective taxation. What hangs in balance is over Rs 50,000 crore, or more, that may be owed to the exchequer by Cairn Energy Plc and Vodafone BV. While two international tribunals have recently ruled against India in both the above disputes, there is much that belies these seemingly one-sided legal contests. ....

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Retro tax: Amid stand-off, Cairn Energy holds 'constructive' meeting with Union finance secretary


Retro tax: Amid stand-off, Cairn Energy holds ‘constructive’ meeting with Union finance secretary
FE Bureau
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Affirming its jurisdiction over the case, the tribunal said the Cairn case was not just a tax-related, but an investment-related dispute.
Amid Cairn Energy’s reported move to recover a $1.4-billion arbitral award in its favour by attaching and seizing Indian assets overseas and New Delhi’s rumoured plans to contest the award, the Edinburgh-headquartered energy company s chief executive Simon Thomson met Union finance secretary Ajay Bhushan Pandey here on Thursday. While the development kept alive hopes of a reconciliation, Thomson, as he came out of the meeting, said the talks were ‘constructive’, without elaborating. ....

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