Delta Corp Ltd Shareholders Find Respite as Goa Bench of Bombay HC Prevents Tax Authorities from Issuing a Final Decision on the INR 16,195-Crore GST Notice Targeting the Casino Company.
Last month, Delta Corp and its subsidiaries had been served notices demanding payment for a tax deficit of INR 23,000 crore.
The Goa bench of the Bombay High Court has instructed the Directorate General of GST Intelligence in Hyderabad not to make conclusive judgments regarding the INR 16,195-crore tax notice without obtaining prior approval. On Monday, Delta Corp's stock on the BSE exchange barely changed, closing at INR 130.
"According to a filing made by Delta Corp on the stock exchange, the Hon'ble High Court of Bombay at Goa reviewed the writ petitions submitted by the Company and its subsidiaries on October 23, 2023. Following a statement from the tax authorities involved, the Hon'ble High Court has instructed these authorities not to make any final decisions on the mentioned show cause notices without obtaining prior permission from the Hon'ble High Court. Specific dates have been scheduled for the completion of pleadings, the hearings, and the ultimate resolution of these writ petitions."
"Senior advocate Harish Salve, representing the petitioners, stated that they intend to respond to the show cause notice by December 15, 2023."
"The court is scheduled to revisit the case on February 5, 2024."
"Recently, the Sikkim High Court instructed the Directorate General of Goods and Services Tax Intelligence (DGGI) not to take any further actions regarding the Rs 628-crore GST show cause notice issued to Delta Corp.
