IT Dept may reopen Satyam 6-years returns

The Income Tax (I-T) department will relook into the Satyam case in view of the disclosure by the statutory auditor, Price Waterhouse, that its audit reports on the company should not be relied upon. While carrying out the investigation on its own, the department will also wait for the restated accounts of the company, whose erstwhile chairman and promoter B Ramalinga Raju has admitted that he had inflated the revenue and profit figures for years. Raju is now in judicial custody for various offences, including fraud.