Against the rejection of tender bid on account of computation. Of net worth, the petitioner filed the writ petition. Dismissing the petition the Court held that, calculation of net worth is primarily on tender issuing Authority and evaluating committee. Court cannot interfere unless arbitrary and contrary to law.
Kalinga Commercial Corporation Ltd. v. Steel Authority Of India (2023)455 ITR 1 (Delhi)(HC)
S. 115JB : Company-Book profit-Tender bid-Computation of net worth-Deferred tax liability-Rejection of tender bid-Calculation of net worth is primarily on tender issuing Authority and evaluating committee-Court cannot interfere unless arbitrary and contrary to law. [R. 11UA, Art. 226]