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of <h1>Supreme Court dismissed a special leave petition due to delay.</h1> Supreme Court dismissed a special leave petition due to delay. - TMI Addition u/s 41 or 28 - Disallowance of principal amount of loan waived off by the lender - one time settlement of loan with Mafatlal Finance Company Ltd., holding that the loan was acquired for acquisition/investment of capital assets as such its waiver cannot be termed as revenue receipt - HELD THAT:- Special leave petition is dismissed on the ground of delay. SUPREME COURT - Citation: 2021 (2) TMI 428 - SC Order. ORDER records that, 'UPON hearing the counsel the Court made the following.' The sole operative disposition states: 'The special leave petition is dismissed on the ground of delay.' The proceeding thus resulted in dismissal of the special leave petition for procedural delay, without further elaboration of merits or directions. No substantive adjudication on the underlying issues was made; the decision rests squarely on procedural grounds (delay) as the basis for denying leave to appeal to this Court.
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