https://www.taxtmi.com/caselaws?id=327493 Concessions granted under a sanctioned BIFR rehabilitation scheme cannot be denied merely because the company's net worth later becomes positive or the SICA reference is discharged. The remaining obligations under the scheme continue to bind the Income-tax Department unless there is a separate lawful basis to refuse compliance. In this matter, the rejection of the claim on the sole ground of improved net worth was found unsustainable, and the impugned communication was set aside with a fresh decision directed in accordance with law and the sanctioned scheme. en-us Thu, 31 Mar 2016 00:00:00 +0530 Wed, 11 May 2016 23:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327493 Concessions granted under a sanctioned BIFR rehabilitation scheme cannot be denied merely because the company's net worth later becomes positive or the SICA reference is discharged. The remaining obligations under the scheme continue to bind the Income-tax Department unless there is a separate lawful basis to refuse compliance. In this matter, the rejection of the claim on the sole ground of improved net worth was found unsustainable, and the impugned communication was set aside with a fresh decision directed in accordance with law and the sanctioned scheme. Case-Laws Income Tax Thu, 31 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327493