https://www.taxtmi.com/caselaws?id=106686 Under section 19(2) of the Sick Industrial Companies (Special Provisions) Act, 1985, limitation for objecting to a draft rehabilitation scheme did not begin to run where the scheme lacked material particulars needed for meaningful examination, including the basis of proposed tax concessions. The High Court held that the Income-tax Department could not be treated as bound by reliefs and concessions later circulated as part of the sanctioned scheme when it had not been given an effective opportunity to assess their tax implications. The objections were therefore not time-barred, and the circulated scheme was set aside to the extent it compelled revenue concessions, with reconsideration directed after hearing the petitioner. en-us Mon, 18 Mar 2002 00:00:00 +0530 Thu, 15 Mar 2012 12:31:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106686 Under section 19(2) of the Sick Industrial Companies (Special Provisions) Act, 1985, limitation for objecting to a draft rehabilitation scheme did not begin to run where the scheme lacked material particulars needed for meaningful examination, including the basis of proposed tax concessions. The High Court held that the Income-tax Department could not be treated as bound by reliefs and concessions later circulated as part of the sanctioned scheme when it had not been given an effective opportunity to assess their tax implications. The objections were therefore not time-barred, and the circulated scheme was set aside to the extent it compelled revenue concessions, with reconsideration directed after hearing the petitioner. Case-Laws Companies Law Mon, 18 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106686