2023 (8) TMI 1087 - SCH - Income Tax

SC Dismisses Petition Against HC Order; Grants Exemption from Filing Certified Copy of Impugned Order.

The SC dismissed the Special Leave Petition challenging the HC's order dated 19-04-2017 after considering arguments from the petitioners' senior counsel ... Disallowance of Interest payable to Alimenta on the amount awarded - Confirmed liability or contingent liability - As decided by HC [2017 (4) TMI 974 - DELHI HIGH COURT]with the Award having been made rule of the Court by a learned Single Judge of this Court, the mere fact that the said judgment and decree was stayed by a DB would not relieve NAFED of its obligation to pay interest in terms thereof to Alimenta. Such liability commenced in the previous year in which the said judgment and decree was passed by the learned Single Judge - HELD THAT:- Having heard learned Senior counsel for the petitioners at a considerable length and after carefully perusing the material available on record, we do not find any ground to interfere with the impugned Order passed by the High Court of Delhi at New Delhi. The Supreme Court allowed an application for exemption from filing a certified copy of the impugned order. After hearing the petitioners' senior counsel and reviewing the record, the Court dismissed the Special Leave Petition challenging the High Court's order dated 19-04-2017.