https://www.taxtmi.com/caselaws?id=194481 The High Court extended the Stand By Letters of Credit (SBLCs) until June 1, 2016, at the request of Jaiprakash Associates Ltd. The SBLCs would be continuously extended or replaced for six months each, securing their validity for eight weeks after pending applications are resolved. The court modified the order dated September 1, 2014, with the consent of all parties, requiring confirmation by a UK confirming bank nominated by Formula One World Championship (FOWC). Jaiprakash Associates Ltd. accepted the SBLCs' validity post the Race Promotion Contract's expiry, and the provisional attachment by the Revenue under Section 281B would continue until certain conditions are met. The Writ Petition was dismissed as withdrawn by the Court. en-us Mon, 30 Nov 2015 00:00:00 +0530 Mon, 11 Sep 2017 07:43:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194481 The High Court extended the Stand By Letters of Credit (SBLCs) until June 1, 2016, at the request of Jaiprakash Associates Ltd. The SBLCs would be continuously extended or replaced for six months each, securing their validity for eight weeks after pending applications are resolved. The court modified the order dated September 1, 2014, with the consent of all parties, requiring confirmation by a UK confirming bank nominated by Formula One World Championship (FOWC). Jaiprakash Associates Ltd. accepted the SBLCs' validity post the Race Promotion Contract's expiry, and the provisional attachment by the Revenue under Section 281B would continue until certain conditions are met. The Writ Petition was dismissed as withdrawn by the Court. Case-Laws Income Tax Mon, 30 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194481