In a step further for resolution of retrospective tax disputes, the government has accepted Cairn Energy Plc’s undertakings to indemnify the former against future claims and withdraw any pending litigation or proceeding before any forum so as to settle their retrospective tax cases, officials said.
Earlier this month, the company gave the required undertakings indemnifying the Centre against future claims. The government has now accepted this and issued Cairn the procedural form which commits to refund the tax collected, an official said.
