HC junks cognizant plea challenging Rs 2,912 crore tax claim

Chennai: IT services exporter Cognizant’s plea challenging a Rs 2,912 crore tax claim by the income tax department has been dismissed by the Madras High Court.

The court dismissed a batch of petitions filed by the software services company and directed it to seek redress from appellate courts under relevant I-T laws.

The Chennai wing of the I-T department issued notices in November 2017 for dividend distribution tax dues on a share buyback where the company remitted Rs 19,415 crore to its nonresident shareholders in 2016.