Bombay High Court Allows Writ Petition Challenging Rejection of Application Under Section 264 of Income Tax Act, 1961 — Failure to Consider Petitioner's Objections and Violation of Principles of Natural Justice. The Assessing Officer's order under Section 195 was set aside for non-consideration of objections and lack of speaking order, and the revisional authority's order under Section 264 was quashed for not remedying the defect....
The petitioner, Larsen & Toubro Limited, a public limited company and engineering conglomerate, entered into a contract with Oil and Natural Gas Corporation Ltd. (ONGC) on 6th February 2006 for survey...
