I read this (http://economictimes.indiatimes.com/tech/ites/sc-orders-status-quo-on-rs-617-crore-tax-demand-from-satyam/articleshow/7883404.cms) today.
I could not understand the position of the income tax (IT) department. As I understand the company called Satyam Computers (Satyam for short) fudged its incomes and over reported (not understated) their income. Presumably the company paid income tax on the higher (fictitious) income reported.
Shouldn't Mahindra Satyam be filing a case for a refund of the tax paid on the difference between the higher income reported and the newly restated lower income?
Am I missing something here? Does the IT department feel that it is always owed money no matter which way the income was reported?
Updated on 12-Apr-2015:
http://www.financialexpress.com/article/companies/satyam-computers-rs-14000-cr-scam-full-text-of-b-ramalinga-rajus-letter-to-board/62101/
Updated on 12-Apr-2015:
http://www.financialexpress.com/article/companies/satyam-computers-rs-14000-cr-scam-full-text-of-b-ramalinga-rajus-letter-to-board/62101/
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