IBM moves panel to get Rs 11,000-cr tax relief

Comments 0
SummaryIndian arm of global computer maker IBM has approached a panel of Income Tax Commissioners

Indian arm of global computer maker IBM has approached a panel of Income Tax Commissioners called the Dispute Resolution Panel (DRP) to get relief from a Rs 11,000-crore tax demand from the income tax department. The company approached the DRP and not a court so as to explore options existing under the I-T Act.

An IBM spokesperson told FE in reply to an email, “IBM does not agree with the tax department’s claims and will aggressively defend itself through the appropriate judicial process.”

IBM’s appeal before DRP is without any prejudice to its right for any other legal action that the company may pursue. The tax demand apparently pertains to 2006-07 fiscal. IBM, however, did not comment on the specifics of the tax demand such as the amount or the year it pertains to.

IBM has extensive presence in India and is engaged in software development, outsourcing and research.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...