Payment towards Buyback of Shares not Genuine: ITAT upholds Order against Cognizant Technology [Read Order]

By Taxscan Team - On July 11, 2022 7:02 pm - 2 mins read
Payment - Buyback of Shares - ITAT - Cognizant Technology - taxscan

Income Tax Appellate Tribunal (ITAT), Chennai bench consisting of Mahavir Singh, Vice President and G Manjunatha, Accountant Member upheld order against Cognizant Technology as payment towards buyback of shares not genuine. M/s.Cognizant Technology Solutions India Ltd. is engaged in the business of software development filed its return of income for the AY 2014-15 on 29.11.2014,…

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