Cognizant’s Rs 19,000cr buyback attracts dividend tax: Tribunal

The Income Tax Appellate Tribunal – Chennai bench on Wednesday ordered that a Rs 19,000-crore share buyback undertaken by technology major Cognizant in 2017-18 attracts dividend distribution tax of Rs 4,853 crore. The ITAT‘s ruling dismissed an appeal filed by Cognizant. Cognizant conducted a share buyback through a scheme approved by the Madras high court … Read more

Bombay Dyeing selling worli land for Rs 5,200 cr

The Company has agreed to sell 22 acres in Worli to Sumitomo Realty & Development Company Limited, a large commercial real estate investor and developer in the Japanese market. Sale is in two phases Phase 1 –  Bombay Dyeing (BDMC) will receive about Rs. 4,675 crore from the buyer by October 2023. Phase 2 – … Read more

kolkata: How a Kolkata-born professor secured a landmark victory against US government

Kolkata-born professor Jay Bhattacharya, hailing from Stanford University, has achieved a significant legal victory alongside fellow scientists, marking a milestone in a free speech censorship case against the US government. In his account published on The Free Press ( on Monday, Bhattacharya expressed, “The victory is not just for me but for every American who … Read more

Polyphenols: Researchers find potential treatment route for Alzheimer’s

Scientists have found that highly abundant naturally occurring plant-based polyphenols or PPs (type of compounds) — like tannic acid found in twigs of trees like Chestnut and Oak — can help create cost-effective strategy for combating Alzheimer’s disease (AD) and reduce the societal burden of this debilitating neurodegenerative disorder. The findings are part of a … Read more

Return asset papers within 30 days of loan repayment: RBI

The Reserve Bank of India (RBI) on Wednesday said regulated entities have to release original property documents to retail loan borrowers within 30 days of full repayment, and any delay would attract a penalty. This would include consumer credit, education loans, loans given to create or enhance immovable assets and loans for investment in financial … Read more