Give Cognizant opportunity to explain its stand on 2 year old Tax dispute: SC

Cognizant Technology Solutions India Pvt. Limited Vs DCIT (Supreme Court) Conclusion: Whether assessee’s purchase of its own shares, which was not in accordance with sec.77A of the Companies Act, would amount to dividends within the meaning of sec.2(22)(d) or 2(22)(a), and consequently, liable for tax u/s. 115-O in the hands of the assessee company. Whether the company had failed to remit the taxes within the stipulated period, the company was ‘deemed to be an assessee in default’, u/s. 115-Q. Whether assessee company was required to remit the taxes (calculated @ 15% of the total payment...