Govt to recall tax demand on Satyam

 Attorney General Goolam E Vahanvati, appearing for the Central Board of Direct Taxes (CBDT), told the apex court that it would recall its March 10, 2011, order, demanding Rs 617 crore in tax and decide afresh on the actual tax liability of Satyam Computer, now known as Mahindra Satyam.

“We would set aside March 10, 2010 order. We would give them a hearing and pass a well-reasoned order,” Vahanvati told a three-judge bench headed by Chief Justice S H Kapadia.

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