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Cognizant's Rs 19,000cr buyback attracts dividend tax: Tribunal

India Business News: The Income Tax Appellate Tribunal in Chennai has ordered that Cognizant's Rs 19,000-crore share buyback in 2017-18 attracts dividend distribution tax ....

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Cognizant Technology Liable For Dividend Distribution Tax On Buyback Of Rs 19,000-Crore Shares: ITAT

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that Cognizant Technology is liable to pay dividend distribution tax on the buyback of Rs. 19,000 crore shares.The bench of Mahavir. ....

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Damage On Account Of Right To Sue Is A Capital Receipt Not Chargeable To Tax: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the damage on account of the right to sue is a capital receipt not chargeable to tax.The bench of Amit Shukla (Judicial. ....

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No more pension or provident fund benefits for I-T, GST tribunal members

Earlier, serving high court or Supreme Court judges were sometimes appointed as chairperson or a member while staying in their existing service. So they were entitled to pension and other benefits. Now when a serving judge of any court is appointed as chairperson or a member of the tribunal, they will have to either resign or obtain voluntary retirement from their parent service before joining the tribunal. They will not be able to serve both at the same time. ....

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Income Tax Act; Mere Uploading Of Notice On Assessee's E-Portal Is Not Proper Service: ITAT

The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has held that mere uploading of notice on the assessee’s e-Portal of the Income Tax Department is not proper service as per the Income. ....

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