Supreme Court · 2016 INSC 1183 · Decided 12 May 2016
Director General of Income Tax (ADMN.) & ANR. v. M/S. GTC Industries LTD. & ANR.
- Court
- Supreme Court of India
- Citation
- 2016 INSC 1183 · [2016] 4 S.C.R. 1010
- Case number
- CIVIL APPEAL No. 5038/2016
- Decided
- 12 May 2016
- Bench
- A.K. SIKRI, R.K. AGRAWAL (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
I 0 I 0 A DIRECTOR GENERAL OF INCOME TAX (ADMN.) & ANR. B c D E F G H v. MIS. GTC INDUSTRIES LTD. & ANR. (Civil Appeal No. 5038of2016) MAY 12, 2016 [A.K. SIKRI AND R.K. AGRAWAL, JJ.) Sick Industrial Companies (Special Provisions) Act, 1985 - ss. 18(5) and 22(1) - Respondent-company 'to consider waiving of interest and penalty' kept under the Scheme - Rehabilitation period was for eight years from 31.3.2003 to 31.3.2011 - In the year 2007, the company was discharged from the purview of the Act as it ceased to be a sick undertaking on its net worth turning positive -
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