Satyam likely to resubmit tax relief case on Apr 15

IT firm Mahindra Satyam is likely to approach the Supreme Court again on friday to resubmit its tax relief appeal of Rs 617 crore after its earlier appeal this week was rejected on the basis of inadequate information.

"The company is planning to resubmit its tax appeal to the Supreme Court on Friday that is on April 15 to get a tax relief of Rs 617 crore from the tax department," a company official said.

It is also learnt that the company neither submitted the Central Board of Direct Taxes’ (CBDT) decision to set aside tax claim nor present its financial data while going to the apex court for the first time on April 11, 2011.

CBDT had agreed to set aside the tax claim of Rs 617 crore on April 8.

Last year, the income tax department had served a notice to Mahindra Satyam, demanding an audit of its accounts for the assessment years 2003-04 to 2008-09 as the company was found guilty for illegally claiming tax credit on fictitious income during the period.