HYDERABAD: The Central Board of Direct Taxes (CBDT) of the Income Tax department on Thursday informed the Telangana High Court that it lacks the authority to reopen Income Tax assessments for the scam-hit Satyam Computers company for the years 2002-2008.
The CBDT’s assertion was made during the hearing on a clutch of pleas filed by Tech Mahindra, the current management of Satyam Computers, seeking a restatement of accounts based on real income for accounting years 2002 to 2009.
Conveying the CBDT’s position, ASG B Narasimha Sarma asserted that neither the reports of probe agencies nor the judgment of the trial court in the Satyam scam case could be the sole basis for tax decisions. The bench will further hear the matter in January third week.