This News Alert on a recent decision of the Bombay High Court in the case of Casby Logistics Private Limited, where it was held that the income tax authorities (ITA) were not be bound by the appointed date while deciding validity of revised returns, or while carrying out pending or future assessments of the petitioners. Also, the regional director was held entitled to raise tax-related objections in a scheme of amalgamation even though no objections were received from the ITA
Saturday, April 11, 2015
Regional Director can raise income-tax related objections in merger scheme though tax authorities raised no objections; tax authorities not bound by appointed date fixed by scheme
This News Alert on a recent decision of the Bombay High Court in the case of Casby Logistics Private Limited, where it was held that the income tax authorities (ITA) were not be bound by the appointed date while deciding validity of revised returns, or while carrying out pending or future assessments of the petitioners. Also, the regional director was held entitled to raise tax-related objections in a scheme of amalgamation even though no objections were received from the ITA
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