17 cases on tax table, Centre reaches out to companies for closure

With Parliament clearing a law to mark an end to retrospective taxation, the Government has initiated “informal discussions” with companies that had been served with notices in this category, including Cairn Energy and Vodafone Group, to settle outstanding issues, The Indian Express has learnt.

These negotiations could be wrapped up within the next month, sources said, adding that any formal statement by either the Government or the companies would be issued only after that.

The Government, however, has reiterated that its sovereign right to taxation cannot be challenged and has asserted that any settlement will hinge upon the companies dropping their demands for interest and other costs, and withdrawing all pending litigation.