1992 (8) TMI 62 - HC - Income Tax

Summary

The High Court of Bombay quashed the Central Board of Direct Taxes' order rejecting a company's application for approval of a technical services agreement with a Nigerian company. The court directed the company to furnish the original or a notarised copy of the agreement and ordered the Board to reconsider the application under section 80-0 of the Income-tax Act. The company was given four weeks to provide the required documentation and would have a hearing before the final decision. The court ruled in favor of the petitioners with no costs.