Cognizant Technology Solutions India Private Ltd., Chennai vs. ACIT, Large Taxpayer Unit-1, Chennai
ITA 269/CHNY/2022[2017-18]Status: DisposedITAT Chennai13 Sept 2023AY 2017-18
Bench: Shri Mahavir Singh, Hon’Ble & Shrimanjunatha.G, Hon’Bleआयकरअपीलसं./Ita No.269/Chny/2022 िनधा"रणवष"/Assessment Year: 2017-18 V. M/S.Cognizant Technology- The Asst. Commissioner- Solutions India Pvt. Ltd., Of Income Tax, 5/535, Okkiam, Thoriapakkam, Large Taxpayer Unit-1, Old Mahabalipuram Road, Chennai. Chennai-600 096. [Pan:Aaacd 3312 M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri Ajay Vohra, Sr.Counsel For Shri N.V. Balaji, Adv. ""यथ" क" ओर से /Respondent By : Shri R.Shankaranarayanan, Additional Solicitor – General Of India For Shri A.P.Srinivas, Sr. Standing Counsel : सुनवाईक"तारीख/Date Of Hearing 03.07.2023 घोषणाक"तारीख /Date Of Pronouncement : 13.09.2023
For Appellant: Shri Ajay Vohra, Sr.CounselFor Respondent: Shri R.Shankaranarayanan
Section 115Section 115QSection 2(22)Section 391Section 393Section 46ASection 77A
…he term ‘dividend’ and are therefore, to be directly construed as held by the Hon’ble Supreme Court in the case of CIT v. C.P.Sarathy Mudaliar reported in [1972] 83 ITR 170 (SC) and by the Hon’ble Delhi High Court in the case of C.R.Dass reported in [2012] 204 Taxmann 227 (Delhi). :: 24 :: 15. The Ld.Sr.Counsel for the assessee referring to provisions of Sec.46A of the Income Tax Act, 1961 submitted that, provisions of Sec.46A of the Act provides for taxation of capital gains arising to its shareholders on purchase of shares and applies to all kinds of buyback/purchase of shares by the company from its shareh…
