Infosys on Thursday clarified that it was not named in a case of alleged income tax fraud that the Central Bureau of Investigation is reportedly looking into. On March 3, The Times of India had reported that the CBI was investigating a “revised tax returns” fraud involving several unknown employees of Infosys, tax department officials and a “fake chartered accountant”.
In a filing to the stock exchanges, Infosys said it had taken note of the report, but that the CBI had not contacted it in connection with the alleged fraud. “Infosys will cooperate with law enforcement agencies as and when we are approached,” the company said.
The Times of India report had claimed that employees of some technology companies had benefited from the “scam”, which the income tax department discovered in January. The First Information Report in the case said that some Infosys employees connived with the fake chartered accountant to claim tax refunds illegally in the names of 250 taxpayers, by filing revised tax returns using forged documents.
Infosys operates the income tax department’s e-returns software. The fraud allegedly caused the income tax department a loss of Rs 5 crore, the Business Standard had reported.