SC to hear Cognizant's SLP in Rs. 19000cr share buy-back recharacterization matter

Oct 07,2019

SC to hear Cognizant Technology's  SLP challenging Madras HC division bench order in writ appeal involving Rs.19000 Cr share buyback re-characterization, SC issues notice to Revenue; Earlier, Single Judge bench of Madras HC had dismissed Cognizant's writ challenging AO's direction to pay Rs.2900cr Dividend Distribution Tax (DDT) on remittance made to non-resident shareholders towards buyback of shares and had relegated the assessee to appellate remedy; Howeve...

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