Hon’ble Bombay HC has recently held in the case of Thermax Babcock & Wilcox Ltd. Vs. CIT that In the event, the Counsel engaged by the Department is absent without a justifiable or reasonable cause, we will invariably impose costs and to be paid by the Counsel personally.
If there are more than four defaults, the account shall be treated as discontinued and revival of the account shall be permitted only within a period of two months from the month of fifth default and in case a depositor fails to deposit next monthly deposit within the time prescribed in sub-rule (3) of rule 6, a default fee at the rate of five paise for every five rupee per defaulted deposits shall also be paid along with regular monthly deposit.
