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  • Govt sets aside Rs 617 crore tax demand on Satyam Computer

    Published on April 8, 2011

    The government today informed the Supreme Court that it will set aside its order directing the scam-hit, IT firm Satyam Computer to pay 617 crore rupees as income tax. Attorney General Goolam E Vahanvati, appearing for the Central Board of Direct Taxes (CBDT), told the apex court that it would recall its March 10, 2011, order, demanding tax and decide afresh on the actual tax liability of Satyam Computer, now known as Mahindra Satyam. The bench, however, refused the Satyam Computer’s plea to defreeze its bank account worth 1,300 crore rupees. The apex court was hearing a petition filed by Satyam Computers challenging Andhra Pradesh High Court’s order directing it to deposit 350 crore rupees along with a bank guarantee of 267 crore rupees to the tax authorities. The bench directed the matter of defreezing Satyam Computer’s account for listing on Monday.

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