Financial Daily from THE HINDU group of publications
Thursday, Jun 12, 2003
Financial Daily from THE HINDU group of publications Thursday, Jun 12, 2003 |
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Corporate
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Courts/Legal Issues HC dismisses Shaw Wallace writ petition Our Legal Correspondent
KOLKATA, June 11 THE Calcutta High Court on Wednesday dismissed the writ petition filed by Shaw Wallace & Co Ltd (SWC) challenging the decision of Settlement Commission, which rejected the company's petition on the ground of failure to deposit the amount with the authority deducted from various parties. The SWC counsel submitted that the company, having a mercantile system, was entitled to deduct tax at source from the parties but the amount could not be deposited owing to a financial crunch, which was still on. The court held that mere filing of application could not prevent the commission from taking any decision rejecting the plea of SWC.
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