https://www.taxtmi.com/caselaws?id=297788 The Supreme Court disposed of a special leave petition challenging an interim order passed by the High Court in a tax dispute between the Income Tax Department and the Chandigarh Housing Board. The parties reached a settlement agreement where a sum of Rs. 278 crores deposited by the Chandigarh Housing Board was adjusted in the Income Tax head, finalizing their liability. It was agreed that no penalty proceedings would be initiated against the Board, leaving the decision to the competent Income Tax authority. The High Court directed the parties to approach for the disposal of the pending ITA, leading to the resolution of the matter. en-us Wed, 30 Apr 2014 00:00:00 +0530 Wed, 22 Sep 2021 06:16:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297788 The Supreme Court disposed of a special leave petition challenging an interim order passed by the High Court in a tax dispute between the Income Tax Department and the Chandigarh Housing Board. The parties reached a settlement agreement where a sum of Rs. 278 crores deposited by the Chandigarh Housing Board was adjusted in the Income Tax head, finalizing their liability. It was agreed that no penalty proceedings would be initiated against the Board, leaving the decision to the competent Income Tax authority. The High Court directed the parties to approach for the disposal of the pending ITA, leading to the resolution of the matter. Case-Laws Income Tax Wed, 30 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297788