The High Court held that in view of the elaborate orders passed in Cognizant (Mauritius) Ltd. v. DCIT (2019) 181 DTR 154 / 310 CTR 321 (Mad.)(HC), touching all the issues, this writ petition stands dismissed, directing the assessee to file necessary objections to the show-cause notice within a period of 15 days and on such receipt, the same shall be considered by meeting out each and every objections raised, on merits and in accordance with law. (Writ Petn. No. 7542 of 2018 dt. 25-06-2019) (AY. 2014-15)
Cognizant Technology Solutions India (P) Ltd. v. CIT (2019) 310 CTR 348 / 181 DTR 181 (Mad.)(HC)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Revision by CIT on the ground of over-valuation of shares of assessee for buy-back purposes—Directing the assessee to file necessary objections to the show-cause and such reply shall be considered by meeting out each and every objections raised, on merits and in accordance with law. [S. 92CA]