Satyam Case: Telangana HC Orders Exclusion of Fictitious Income

Satyam Computer Services Limited Vs Central Board of Direct Taxes (Telangana High Court) Satyam Computer Services Limited, now Tech Mahindra Limited, sought relief from the Central Board of Direct Taxes (CBDT) following a major financial scandal. The company’s former chairman admitted to inflating income by Rs. 5,040 crores, resulting in inflated tax payments. The company requested the CBDT to allow recomputation of income for Assessment Years 2003-04 to 2008-09, to exclude the fictitious income. The CBDT rejected this request, citing a lack of jurisdiction and the absence of “genu...