U.S. Courts News Reporter
I have been doing this kind of work for over 30 years and I seldom have seen such a detailed report as this done in any outbreak. Kudos to the folks at McHenry County and others involved in the investigation. Below are the bullet points – full report can be found HERE.
We do represent several of the kids impacted and will determine next steps after a few more reads of the report.
The ITAT recently dismissed an appeal and slammed Cognizant India Private Limited (“Cognizant India”) for what it perceived as using a colorable device to evade taxes during its INR 190 billion share buyback exercise.
Cognizant (Mauritius) Limited (“Cognizant Mauritius”) and Cognizant Technology Solutions Corporations USA (“Cognizant USA”) held around 76% and 22% stake in Cognizant India respectively. The remaining 2% minor shareholding was also held by USA based entities.
In the year 2016, Cognizant … Read the rest
In the case of Manas Vs. Income Tax Officer[1], the Hon’ble Madras High Court (“HC”) took serious objection to the taxpayer’s attempt at misleading the Court. The taxpayer had filed a writ petition seeking quashing of the reassessment proceedings and satisfaction order passed under Section 148A of Income Tax Act, 1961 (“IT Act”).
Oddly enough, the taxpayer’s argument was centered on the claim that the notice of the satisfaction order did not reach the … Read the rest