Case Law Details
Case Name : Ogene Systems India Limited Vs ITO (ITAT Hyderabad)
Related Assessment Year : 2014-15
Courts :
All ITAT ITAT Hyderabad
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Ogene Systems India Limited Vs ITO (ITAT Hyderabad)
Impugned encashment of bank guarantee is outcome of failure to perform its contractual obligation only without involving any offence or penal component u/s.37(1) of the Act. we find that a catena of case law holds that such an encashment of bank guarantee is incurred in the normal course of business than involving any
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