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Infosys pulls out of new development centre proj in Bengaluru

Country's second largest software services firm Infosys has pulled out of the proposed software development centre project to be set up near Bengaluru citing lack of infrastructure in India's 'Silicon Valley'.

Breather for IT cos: CBDT withdraws a controversial circular

The decisions were taken following representation from the industry for greater clarity on two circulars concerning international taxation or transfer pricing.