ALLEGATIONS BY I-T DEPT

■ The firm avoided ~5 billion in tax

■ Free reserves with Cognizant’s Indian arm before buyback was around ~110 billion

■ Indian firm bought back 0.25 million shares from US firm for around ~23,000 per share

■ It also bought 0.91 mn shares from its Mauritius arm for same value during assessment year 2014-15

■ The US firm, through a scheme of arrangement, repatriated ~210 billion in May 2016

■ Firm defends itself and says it is committed to compliance with the law in all jurisdictions