Tag: Infosys

Source: taxscan.in In a big relief IT giant Infosys, the Karnataka High Court has quashed Income Tax Notices against Infosys Limited. The Petitioner has challenged the proceedings initiated by the respondent under Section 147 r/w section 148 of the Income Tax Act, 1961 relating to the assessment years 2004-05, 2005-06 and 2006-07. The Petitioner contended

Source: thehindu.com In a relief to software giant Infosys Ltd., the Karnataka High Court has held that there is “not an iota of material available in the reasons recorded by the assessing officer to believe escapement of tax” on any agreement in which the company had received revenue from foreign companies for deputing technical staff