Tech Mahindra Gets Relief From High Court In Satyam Case

Tech Mahindra, which acquired Satyam Computers after the scandal, got some relief from High Court on Friday by holding that Satyam's income tax should be assessed according to its actual earnings between 2002 and 2009. It said that taxing on the fictitious income reported by Satyam was wrong.

Tech Mahindra had approached the High Court by filing a case against the CBDT for not allowing an assessment of taxes under actual earnings for the period involved. A bench comprising Justices P. Shyamkoshi and N. Tukaramji heard the case, upholding the point raised by Tech Mahindra before it. The court agreed that Satyam's erstwhile Chairman, Ramalinga Raju inflated his income figures, and thus, canning tax on those becomes unfair.