{"id":403332,"date":"2021-03-06T10:41:22","date_gmt":"2021-03-06T05:11:22","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=403332"},"modified":"2021-03-06T10:41:22","modified_gmt":"2021-03-06T05:11:22","slug":"cairn-energy-india-to-appeal-against-arbitration-decision-questioning-authority-to-tax","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/cairn-energy-india-to-appeal-against-arbitration-decision-questioning-authority-to-tax\/","title":{"rendered":"Cairn Energy: India to appeal against arbitration decision questioning authority to tax"},"content":{"rendered":"<p>NEW DELHI : Finance Minister Nirmala Sitharaman on Friday indicated the government&#8217;s intent to appeal against an arbitration panel asking India to return $1.4 billion to UK&#8217;s Cairn Energy Plc, saying it is her &#8220;duty&#8221; to appeal in cases where the nation&#8217;s sovereign authority to tax is questioned.<\/p>\n<p>Last year, the government lost two high-profile arbitrations over the levy of taxes on British firms, using legislation that gave it the power to levy taxes with retrospective effect.<\/p>\n<p>While the government has already challenged in a Singapore court an international arbitration tribunal verdict that overturned its demand for \u20b922,100 crore in back taxes from Vodafone Group Plc, it hasn&#8217;t yet done so against a December 21 award asking India to return the value of shares seized and sold, divided, confiscated and tax refund stopped to adjust a \u20b910,247 crore tax demand on Cairn.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI : Finance Minister Nirmala Sitharaman on Friday indicated the government&#8217;s intent to appeal against an arbitration panel asking India to return $1.4 billion to UK&#8217;s Cairn Energy Plc, saying it is her &#8220;duty&#8221; to appeal in cases where the nation&#8217;s sovereign authority to tax is questioned. Last year, the government lost two high-profile arbitrations over the levy of taxes on British firms, using legislation that gave it the power to levy taxes with retrospective effect. While the government has already challenged in a Singapore court an international arbitration tribunal verdict that overturned its demand for \u20b922,100 crore in [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,237],"tags":[],"class_list":["post-403332","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-power-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/403332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=403332"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/403332\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=403332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=403332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=403332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}