Centre accepts Cairn’s offer on retrospective tax:

GS Paper 3: Topics Covered: Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth.   Cairn’s offer on retrospective tax Context: Moving quickly towards ending a retrospective tax dispute with a firm that gave India its largest oilfield, the government has accepted Cairn Energy PLC undertakings which would allow …

Cairn to begin process to end tax dispute:

GS Paper 3: Topics Covered: Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth.   tax dispute: Context: Cairn Energy has entered into certain undertakings with India which would allow for the refund of taxes under a billion-dollar dispute.   What’s the issue? In December 2020, a three-member international …