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Delta Corp gets interim relief from HC on tax notice

Oct 25, 2023

By: BlinkX Research Team

Delta Corp announced in a stock exchange filing on October 24 that the Bombay High Court in Goa had reviewed the writ petitions filed by the company and its subsidiaries concerning the show cause notices that the tax authorities had issued. The court's order forbade the authorities from taking final decisions without first receiving permission from the court.

The casino gaming company also pointed out that the court has scheduled certain dates for the end of hearings, arguments, and the ultimate decision regarding these writ petitions.

"The Hon’ble High Court of Bombay at Goa considered the writ petitions filed by the Company and its subsidiaries on 23rd October, 2023. Basis a statement made on behalf of the concerned tax authorities, the Hon’ble High Court has directed such authorities not to pass any final orders on the captioned show cause notices without the prior permission of the Hon’ble High Court. Dates have been fixed for completion of pleadings, and the hearing and final disposal of such writ petitions," Delta Corp said in its stock exchange filing.

Delta Corp's total tax shortfall liability now stands at more than Rs 16,194 crore. In comparison, Delta Corp's market capitalisation is Rs 3,749 crore.