Case Law Details
Niket Udyog Ltd Vs State of M.P. & Ors (Supreme Court of India)
The case of Niket Udyog Ltd vs State of Madhya Pradesh & Ors reached the Supreme Court, challenging the tax liability determined under various tax acts. This article delves into the court’s decision and its implications.
Detailed Analysis
The core issue revolved around the tax liability imposed by the Commercial Tax Officer while proceedings under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA Act) were ongoing. Despite the company’s reference to the Board for Industrial and Financial Reconstruction (BIFR), the tax determination proceeded, leading to legal contestation.
However, the crucial development occurred with the conclusion of proceedings under the SICA Act, as evidenced by the BIFR’s order dated 28.01.2014. The order acknowledged the settlement of the company’s dues, relieving the government of further involvement in the matter. This pivotal revelation rendered the appeals moot, prompting the Supreme Court to uphold the tax settlement.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Author Bio
