SC rejects Essar Oil’s tax review petition

The Supreme Court has refused to review its January 17 judgement,which quashed the Gujarat High Court’s order allowing Essar Oil Ltd to pay Rs 6,300 crore sales tax liability in deferred instalments and extended the time period of the state government’s tax incentive scheme

Written by Express News Service | New Delhi | Published:April 5, 2012 1:26 am

The Supreme Court has refused to review its January 17 judgement,which quashed the Gujarat High Court’s order allowing Essar Oil Ltd to pay Rs 6,300 crore sales tax liability in deferred instalments and extended the time period of the state government’s tax incentive scheme.

A bench of Justices AK Patnaik and JS Khehar did not find merit in the review petition filed by Essar.

The apex court on January 17 had delivered the verdict on the petition by the Gujarat government challenging the 2008 high court order,which had allowed Essar’s plea on the issue.

Essar Oil had availed the state government’s ‘Capital Investment Incentive to Premier/Prestigious Unit Scheme,1995-2000’ for its Rs 1,900-crore Vadinar plant in Jamnagar district as a 100 per cent export-oriented unit for refining of petroleum products with a capacity of 9 million tonnes per annum.

The company in a statement said “this order has no new impact on the business”.

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