India seeks to resolve tax disputes quickly: Arun Jaitley

New Delhi: India is seeking to resolve pending tax disputes with investors and hopes to resolve 'legacy' issues in short order, said Finance Minister Arun Jaitley on Wednesday. Jaitley was speaking after the finance ministry decided last week not to press claims for a Minimum Alternate Tax (MAT) against foreign portfolio investors. India remains locked in major back-tax disputes with telecoms group Vodafone and Cairn Energy.

Without referring to individual disputes, Jaitley said the government was trying to resolve pending tax disputes, many of them outside the courts, and said that these legacy issues would be resolved "in not much time".