July 2020

GLIMPSES OF SUPREME COURT RULINGS

Kishor Karia
Chartered Accountant | Atul Jasani
Advocate

9. Cognizant Technology Solutions India Pvt. Limited vs. Deputy Commissioner of Income Tax Civil Appeal No. 1992 of 2020 [Arising out of Special Leave Petition (Civil) No. 23705 of 2019] Date of order: 4th March, 2020

 

Dividend – Whether payments made to the shareholders, under purchase of shares through the scheme of ‘arrangements and compromise’, was a dividend within the meaning of section 2(22)(d)/2(22)(a) of the Act, requiring to remit the taxes into the government account u/s 115O – Communication merely a notice and not an order – Matter disposed of with directions

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