I-T seeks Rs 30k cr penalty from Cairn for non-payment of tax
New Delhi: The Income Tax Department has slapped a fresh notice on British firm Cairn Energy, seeking up to Rs 30,700 crore in penalties for its alleged failure to pay Rs 10,247 crore capital gains tax on time. Within weeks of tax tribunal ITAT upholding levy of retrospective tax, the Income Tax Department first sent a fresh demand note of Rs 10,247 crore and another show cause notice asking as to why penalty should not be levied for its failure in paying tax on time and filing of returns.
Domestic air passenger traffic up by 15%
Mumbai : The deceleration in the domestic air traffic growth continues for the second consecutive month this year with the demand for travel going up nearly 15 per cent to 90.45 lakh in March. The local airlines had flown 78.72 lakh passengers in March 2016. After posting over 20 per cent growth in domestic passenger market for the 13 consecutive months till January this year, the demand air travel dropped to 15.77 per cent in February.
RDEL gets lenders’ approval to exit CDR
New Delhi: Reliance Defence and Engineering (RDEL) has secured nod from a consortium of lenders to exit its corporate debt restructuring package.The consortium of lenders, led by IDBI, has agreed to the exit plan of RDEL, a subsidiary of Reliance Infrastructure, with a longer maturity period for loans worth about Rs 6,800 crore, sources said. The lenders have also given their go-ahead to implementation of refinancing scheme of RDEL.
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- End of the Indica 25 May 2018 | Kushan Mitra
- NCLAT asks Bhushan Power to proceed with selection of bids 25 May 2018 | PTI
- Govt hikes customs duty on wheat to 30% to curb cheaper imports 25 May 2018 | PTI
- Sensex recoups 153 points on global cues 25 May 2018 | PTI
- Ficci: Govt‚Äôs move to clear IBC changes to expedite NPA cases 25 May 2018 | PTI
- Rupee rebounds from 18-mth low, up 12 paise against dollar 25 May 2018 | PTI
Sunday EditionView All
20 May 2018 | PNS
New Delhi: “Now, let us enjoy our holidays,” this is how the Supreme Court concluded the hearing on the Karnataka power row on Saturday. The courtroom burst into a bout of laughter as Justice AK Sikri, who headed the three-judge Bench, made the jovial remark ...
STATE EDITIONSView All
25 May 2018 | Santosh Narayan | Ranchi
When Prime Minister Narendra Modi during his Jharkhand visit on Friday sits with the Deputy Commissioners and officials of the 19 aspirational districts it would boost hope of speedy development of the areas that have been in the red zone. It is learnt that all the DCs concerned have been told to be ready with crisp presentations highlighting not only the good works done in their areas identified but also...