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October 5, 2020Impact on assessments
Commenting on the development, Divakar Vijayasarathy, Founder and Managing Partner – DVS Advisors LLP, said it is a given fact that corporate assesssees are represented by high profile counsels and in certain critical cases, the revenue’s contention falls flat due to lack of proper coordination and poor preparation on the revenue’s side. A judicial precedence at the high court level would have far reaching impact on subsequent assessments in the respective State, if not entire country, since the Jurisdictional High Court Decision is binding on the revenue authorities and tribunal in the State.