Cit vs Air Liquide India Holding (P.) Ltd.

The Supreme Court addressed the dismissal of an appeal by the High Court under Section 260A of the Income Tax Act, 1961, determining that a question of law did arise regarding the assessee's entitlement to plead reasonable cause for not depositing tax. The Court found that the High Court's dismissal was incorrect and set aside the impugned order, remitting the appeals back to the High Court for a decision in accordance with law. The appeals were allowed with no costs awarded.