Case Law Details
Pr. Director General of Income Tax (Admn & TPS) Vs Indian Plywood MFG Co Pvt Ltd & Anr (Delhi High Court)
Delhi High Court held that no additional concession could be included in BIFR [Board for Industrial and Financial Reconstruction] by the Income Tax Department without any extension or modification of the Scheme.
Facts- The Principal Director General of Income Tax [DGIT] has filed the present petition impugning an order passed by the Board for Industrial and Financial Reconstruction [BIFR] relating to respondent no.1 – M/s The Indian Plywood Mfg. Co. Pvt. Ltd.
BIFR had directed the Income Tax Authorities to comply with its earlier order dated 26.02.2013 within a period of 45 days.
The DGIT assailed the impugned order, essentially, on two fronts. First, that further concessions, as contemplated in the order, could not be granted as the Scheme had come to an end. According to the DGIT no further concessions could be considered or granted without extending the term of the Scheme. Second, that in terms of the order, the Scheme was modified to require the Income Tax Department to consider the grant of further concessions as specified in the said order and there is no requirement to necessarily grant the same.
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