In what could trigger a legal war between the revenue authorities and Cairn India the income tax appellate tribunal (ITAT) said that the latter must pay tax in India. The Indian tax authorities had demanded tax under the indirect transfer of shares provisions.
Rakesh Nangia, Managing Partner shares his views on Cairn India must pay tax in India under indirect transfer of shares provision: ITAT for Economic Times
(This is a exclusive story by ET)
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