On 06 April 2015
Cairn India announced that the Company has on 06 April 2015, filed a Writ Petition with the Hon'ble Delhi High Court praying for quashing / setting aside the order passed by the Tax Authorities under Section 201 of the Income Tax Act, 1961.As informed earlier, the Company had received an order from the Income Tax Department for an alleged failure to deduct withholding tax on alleged capital gains arising during 2006-07 in the hands of Cairn UK Holdings (CUHL), the Company's erstwhile parent Company, a subsidiary of Cairn Energy Plc.
This was in respect of the transaction of CUHL transferring the shares of Cairn India Holdings (CIHL) to Cairn India as part of internal group reorganisation in 2006-07 to facilitate the IPO of Cairn India.
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