I-T Dept slaps Rs 582 cr tax demand notice on Infosys

May 19, 2013

New Delhi, May 19: Income Tax department has slapped a fresh USD 106 million (about Rs 582 crore) tax demand notice on Infosys, for 2009 fiscal, adding to the tax woes of India's second largest IT firm. info

The Bangalore-based software services exporter is already contesting additional income tax demands of USD 214 million (about Rs 1,175 crore) for four fiscals years beginning 2005 and said it will take legal recourse against the fresh tax demand notice as well.

"The company has received the assessment order from the Income tax authorities for fiscal 2009 on May 2, 2013 along with a demand order for an amount of USD 106 million," Infosys said in a filing to the US Securities and Exchange Commission (SEC) last week.

In the filing Infosys added, "As the company is contesting this position like earlier years, the appellate authority would be approached within the time limit prescribed under the relevant law."

Infosys is already facing tax demands worth USD 214 million for fiscal 2005 to fiscal 2008 "mainly on account of disallowance of a portion of the deduction claimed by the company under Section 10A of the Income Tax Act."

"The company has received demands from the Indian IT authorities for payments of additional taxes totalling USD 214 million, including interest of USD 62 million upon completion of their tax review for fiscal 2005, fiscal 2006, fiscal 2007 and fiscal 2008," it said in the filing.

The deductible amount is determined by the ratio of export turnover to total turnover.

The disallowance arose from certain expenses incurred in foreign currency being reduced from export turnover, but not reduced from total turnover, it added.

The tax demand for fiscal 2007 and fiscal 2008 also includes disallowance of portion of profit earned outside India from the STP units and disallowance of profits earned from SEZ units, it said.

"The matter for fiscal 2005, fiscal 2006, fiscal 2007 and fiscal 2008 are pending before the Commissioner of Income tax (Appeals) Bangalore," Infosys said in the filing.

Infosys added that its position in the cases relating to tax demands is strong and it expects to win the appeal.

"The company is contesting the demand and the management, including its tax advisors, believes that its position will likely be upheld in the appellate process.

"The management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the company's financial position and results of operations," it added.

On taxes in India, Infosys said in the filing "The company, as an Indian resident, is required to pay taxes in India on the company's entire global income in accordance with Section 5 of the Indian Income Tax Act, 1961, which taxes are reflected as domestic taxes."

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News Network
January 7,2020

New Delhi, Jan 7: When a reign of terror was unleashed by "masked goons" in the Jawaharlal Nehru University (JNU) on Sunday, Delhi Police registered two cases against varsity students union president Aishe Ghosh, who was badly injured in the attack, within a span of five minutes.

The registration of cases on two separate complaints against Ghosh and other students filed by JNU security department on January 3 and January 4 were registered on Sunday night when the violence was on, triggering questions about the motive behind the timing.

While the FIRs against Ghosh and others were registered between 8.44 pm and 8.49 pm after the JNUSU president was admitted to AIIMS, an FIR on the Sunday violence was registered on Monday at 5.36 am against unknown persons. The Sunday violence case has been transferred to Crime Branch for further investigations.

Questions are being raised over the registration of FIRs on Sunday while the complaints were filed on the previous days. Students allege that it was an afterthought from the police and authorities, as a nationwide outrage erupted as soon as the violence was reported.

Delhi Police is under attack for not coming to the aid of students targeted by the mob of ABVP activists armed with iron rods and sticks who went on a rampage on the campus. While no single person in the Sunday violence was arrested, the police are also accused of being a "mute spectator" by allowing the rioters to leave the campus without being arrested.

In its complaints, the JNU Security Department has alleged that Ghosh and others entered into a verbal and physical scuffle with security guards, including women, when officials tried to open the Centre for Information System (CIS) that was blocked by students protesting against the fee hike and registration process.

While the January 3 complaint claims that the students switched off the power supply to the CIS and evicted staff forcefully, the January 4 complaint alleged that they damaged the information system.

They also claimed the students damaged the servers, made it dysfunctional, severely damaged optic fibre cables and broke the biometric system in the CIS. The complaint also cited a Supreme Court order that prevented any protest within 100 metres of Administration Block and claimed the students violated the direction.

The FIR filed on Sunday violence on the basis of the statement of Inspector Anand Yadav said that the first phase of violence was reported at 3.45 pm when "40-50 unidentified" people who had "covered their faces" attacked students in Periyar Hostel and the situation was brought under control.

However at around 7 pm, "50-60 people with rods in their hands" targeted students in Sabarmati Hostel in which students were attacked and public property destroyed.

The FIR said that students were injured but skipped the mention of the attack on teachers, who were injured. At least two faculty members Sucharita Sen and Ameet Parameswaran were taken to AIIMS while several other teachers suffered minor injuries.

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News Network
May 12,2020

Srinagar, May 12: Two paramilitary Central Reserve Police Force (CRPF) officers committed suicide after shooting themselves with their service rifles in Kashmir on Tuesday.

In the first incident, a CRPF sub-inspector on Tuesday committed suicide after shooting himself with his service rifle at Mattan area of south Kashmir’s Anantnag district. The deceased, identified as Fatah Singh of Jaisalmer in Rajasthan, had reportedly left behind a suicide note that read: “I am afraid, I may have Corona.”

Station House Officer (SHO) Akura, Mattan police station Jazib Ahmed said that they have followed the COVID-19 protocol while dealing with the body of the CRPF sub-inspector. “His samples have been taken and post-mortem conducted. Only results would confirm whether he was a COVID-19 positive,” he said.

CRPF spokesman in Srinagar Pankaj Singh said the officer had returned to his unit after performing a day-long duty. “As such, there is no evidence that he had caught COVID-19. Let’s wait for the final report. Details will be shared with the media,” Singh said.

Hours after the first incident, an assistant-sub-inspector of the CRPF posted in Srinagar also committed suicide by shooting himself dead with his service rifle.

Special Director General of CRPF, Zulfikar Hassan said they were trying to find out the reason for the two boys taking this extreme step.

Suicides and fratricide incidents are not uncommon among the CRPF and the Army personnel deployed in Kashmir. In 2006, recognising the rising fratricide and suicide cases among the armed forces, the then Defence Minister had constituted an expert group of psychiatrists under the Defence Institute of Psychological Research in order to suggest remedial measures to prevent suicide and fratricide incidents.

Over the last decade, incidents of fratricide have reportedly reduced in the Army as the force has taken measures to address the issue.

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News Network
February 12,2020

New Delhi, Feb 12: Unidentified people opened fire at the convoy of the newly elected Aam Aadmi Party legislator Naresh Yadav in Southwest Delhi when he and his supporters were returning home after visiting a temple after his victory, killing a party volunteer, police and a senior AAP leader said.

The firing incident happened in Kishangarh village late Tuesday night.

Police said they have detained a person for questioning and the incident appears to be a case of personal enmity. Sources said seven rounds were fired at the MLA's convoy.

Another person injured in the incident has been admitted to a hospital.

AAP leader Sanjay Singh identified the dead party volunteer as Ashok Mann.

“Convoy of MLA Naresh Yadav attacked in Mehrauli, Ashok Mann killed. Naresh Yadav was returning home after visiting a temple,” Singh said in a tweet in Hindi.

“At least one volunteer has passed away due to bullet wounds. Another is injured,” AAP tweeted.

Ankit Lal, AAP's social media in-charge, added that miscreants in another car opened fire on the MLA's convoy near Fortis Hospital.

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