The Delhi High Court has set the timelines for SNN Business Services to clear the Tax Dues in instalments.
The cumulative amount which the respondent authority claimed prior to March 3, 2021, was approximately Rs.24,96,42,318/-. The petitioner-company, SNN Business Services has paid Rs.7.70 crores to the respondents prior to our order dated 03.03.2021. It is on account of this payment that the principal liability got scaled down to approximately Rs.17.00 crores. The interest component, which is included in Rs.20.22 crores is Rs.2.96 crores.
The company further stated that Rs.9,08,70,000/- was remitted to the respondents.
The court in its earlier order lifted the provisional attachment of the 11 Bank Accounts of SPNN Business Services so as to pay the salaries of the employees and also directed the company to deposit the first tranche of Rs.5.00 crores with the respondents on or before March 31, 2021. This will be apart from the excess amount that the petitioner-company is required to deposit with the respondents.
“Insofar as the remaining tranches are concerned, we will fix the timelines once the petitioner-company fulfills the directions with regard to the payment of monies to the respondents,” the court in its earlier order said.
The division bench of Justices Talwant Singh and Rajiv Shakdher said that Since the petitioner has complied with the directions issued by us via order dated 05.03.2021, the court is inclined to issue the directions.
Firstly, the petitioners will remit a further amount of Rs. 5.00 crores to the respondents on or before May 20, 2021.
Secondly, the balance amount claimed by the respondents towards tax, will be remitted on or before July 1, 2021.
The court has listed the matter on May 24, 2021 as a next date of hearing.Subscribe Taxscan AdFree to view the Judgment
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