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of <h1>ITAT Hyderabad dismisses appeals for delayed filing, stresses importance of timely compliance</h1> <h3>M/s. Venkat Pharma Ltd. Versus Commissioner of Income tax</h3> M/s. Venkat Pharma Ltd. Versus Commissioner of Income tax - TMI Issues:1. Delay of 30 days in filing appeals before ITAT Hyderabad.2. Grounds of appeal raised by the assessee for AY 2002-03 and 2003-04.3. Condonation of delay in filing appeals.4. Adjudication on the delay issue.Analysis:Issue 1: Delay of 30 days in filing appealsThe appeals by the Assessee were directed against the orders of the CIT(A)-IV for the assessment years 2002-03 and 2003-04. The Assessee attributed the delay in filing the appeals to the Accountant's oversight, who failed to bring the order to the management's attention due to audit work and subsequent leave. The Tribunal emphasized the need for a diligent explanation for delay, stating that the law assists the vigilant and condonation requires proof of diligence and absence of negligence. The Tribunal found the reasons provided by the Assessee lacking in cogent evidence and declined to condone the delay, highlighting the importance of establishing a sufficient cause beyond the party's control.Issue 2: Grounds of appeal for AY 2002-03 and 2003-04For AY 2002-03, the Assessee raised grounds related to non-consideration of foreign exchange earnings for deduction u/s 80HHC and denial of deduction under section 80IB. In AY 2003-04, issues included denial of deduction under section 80IB and alleged miscalculation of 80HHC deduction. The CIT(A) decisions were challenged on various legal grounds, highlighting discrepancies in the treatment of deductions and income calculations.Issue 3: Condonation of delay in filing appealsThe Assessee sought condonation of the 30-day delay in filing the appeals, attributing it to the Accountant's inadvertence. However, the Tribunal found the reasons insufficient and emphasized the need for a diligent and valid cause beyond the Assessee's control. Citing the principles outlined by the Hon'ble Supreme Court, the Tribunal underscored the importance of substantial justice over technical considerations and the need for a rational approach in condoning delays.Issue 4: Adjudication on the delay issueAfter careful consideration, the Tribunal declined to condone the delay in filing the appeals, citing the Assessee's lack of diligence and failure to provide substantial evidence for the delay. The Tribunal stressed the importance of adhering to limitation provisions and the need for parties to approach legal matters with due care and attention. Consequently, the appeals were dismissed due to the uncondoned delay, and the grounds raised by the Assessee were not addressed on merits.In conclusion, the judgment by the ITAT Hyderabad emphasized the significance of timely filing, diligence, and valid reasons for condonation of delays in legal proceedings, while also addressing the substantive legal issues raised by the Assessee in the appeals for the respective assessment years.
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