Section 249(4) not apply if no advance tax liability in reassessment

Nine Globe Industries Pvt. Ltd Vs ACIT (ITAT Mumbai)

n the case of Nine Globe Industries Pvt. Ltd Vs ACIT, the Income Tax Appellate Tribunal (ITAT) in Mumbai delivered a significant ruling regarding the applicability of Section 249(4) of the Income Tax Act, 1961. The core issue was whether Section 249(4), which requires the payment of advance tax for an appeal to be considered valid, applies in reassessment proceedings where no advance tax liability exists. The ITAT ruled that this provision does not apply in such cases, providing clarity on a nuanced aspect of tax law.

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