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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- ‘India Inc seals 252 M&A deals worth 15.8 bn in Jan-Mar’ 24 May 2017 | PTI
- Central Bank to raise Rs 6,500 cr this fiscal 24 May 2017 | PNS
- CEOs got biggest raise since 2013 24 May 2017 | PTI
- SFIO developing early warning system to detect corp frauds 24 May 2017 | PTI
- Aditya Birla Fashion partners KVIC, to sell Khadi products 24 May 2017 | PTI
- Ericsson sees growth in business despite tough times for telcos 24 May 2017 | PTI
- Tata Motors Q4 net profit down 16.79% to Rs 4,336.43 crore 24 May 2017 | PTI
- Goyal says won't allow companies from country barring Indian firms 24 May 2017 | PNS
- Cybersecurity threat landscape has grown exponentially: Cisco 24 May 2017 | PTI
Sunday EditionView All
21 May 2017 | PTI | Jamshedpur
Protest against lynching of four persons intensified today and the police had to fire in the air to disperse a mob, while prohibitory orders under Section 144 were imposed in four areas here for tonight. Police fired in the air to disperse a mob that blocked roads in Mango area, demanding arrest of culprits involved in the lynching of four persons of a community at Rajnagar in Seraikela-Kharswan district on Thursday...
STATE EDITIONSView All
24 May 2017 | PNS | Dehradun
Acting on information received on stacking of foreign exchange in violation of rules, possession of assets disproportionate to sources of income and unaccounted- for money and others, the vigilance sleuths of Enforcement Directorate reportedly swooped down on a well-known chain of shops- Kumar Store- located at Nashvila Road, GMS Road and Rajpur Road in Dehradun on Tuesday. The raids started from 1 pm and continued till evening...