TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>High Court mandates deposit and investment, grants extension for affidavit, ensures preservation of financial status quo.</h1> <h3>COGNIZANT TECHNOLOGY SOLUTIONS INDIA PVT. LIMITED Versus DEPUTY COMMISSIONER OF INCOME TAX LARGE TAX PAYER UNIT 1</h3> COGNIZANT TECHNOLOGY SOLUTIONS INDIA PVT. LIMITED Versus DEPUTY COMMISSIONER OF INCOME TAX LARGE TAX PAYER UNIT 1 - TMI Issues:1. Deposit of a substantial sum pursuant to a High Court order.2. Request for time to file affidavit in reply.3. Fixing the date for final disposal of the matter.4. Maintenance of the deposited amount in the same form.Analysis:1. The judgment pertains to a substantial sum of money, amounting to Rs. 2806,40,15,294, which was deposited and invested in fixed deposit receipts as per an order dated 03.04.2018 by the Single Judge of the High Court of Judicature at Madras in Writ Petition No.7354 of 2018.2. The advocate representing the Department requested and was granted a two-week extension to submit an affidavit in reply. This procedural step allows the Department to present its response within the specified timeline, ensuring a fair opportunity for both parties to present their arguments.3. In light of the facts and circumstances presented, the judges scheduled the matter for final disposal on 14.11.2019. Setting a definitive date for final disposal is crucial in legal proceedings to ensure timely resolution and closure to the case.4. Until further consideration, the judgment mandates the maintenance of the deposited amount in the same form it currently exists. This directive ensures the preservation of the financial status quo until the matter is conclusively resolved, preventing any alterations to the deposited sum during the ongoing legal process.
TaxTMI 
TaxTMI 
