2016 (5) TMI 210 - SCH - Income Tax

Refund of amounts realised to meet the contingent sales tax liability - Held that - The amounts realised to meet the contingent sales tax liability of the assessee has since been refunded to the persons from whom the same was collected and also a finding has been reached that the agreement enhancing the lease rent was not a sham document, we find no ground to continue to entertain the present special leave petition.

Summary

The Supreme Court of India in 2016 (5) TMI 210 - SC Order, with Justices Ranjan Gogoi and Prafulla C. Pant, allowed the delay. The court found that the sales tax amounts collected were refunded and the lease rent agreement was valid. The special leave petitions were disposed of, allowing the Revenue to pursue further legal remedies if needed.