2024 (3) TMI 1021 - SCH - Income Tax

Supreme Court Dismisses Petitions Over 298 and 300-Day Delays; Questions of Law Remain Unresolved.

PR. COMMISSIONER OF INCOME TAX Versus DEEPANSU MOHAPATRA

The SC dismissed two special leave petitions due to substantial delays of 298 and 300 days in filing, citing inadequate explanations for the delay. The ... Claim of long-term capital gains on shares in terms of Section 10(38) - Assessee not claiming exemption u/s 10(38) at the stage of the assessment proceedings but turned around and make such claim of wanting to cross-examine persons - Denial of principles of natural justice - denial of an opportunity to cross examine the entry providers - HC [2023 (2) TMI 392 - ORISSA HIGH COURT] held that claim for benefit of Section 10(38) of the Act and denial of an opportunity to cross examine the entry providers, turned on facts. ITAT was justified in accepting the plea of the Assessee that the failure to adhere the principles of natural justice went to the root of the matter. Also, the CBDT circular that permitted to the Assessee to file revised returns if he omitted to make a claim was also not noticed by the AO. HELD THAT:- There is gross delay of 298 days/300 days in filing this special leave petition. The explanation offered is not sufficient in law to condone the delay. Hence, the application seeking condonation of delay is dismissed. Consequently, the special leave petition is also dismissed, keeping open the question of law, if any. The Supreme Court dismissed two special leave petitions due to gross delays of 298 and 300 days in filing, with insufficient explanations. The applications seeking condonation of delay were also dismissed, keeping open any questions of law. Pending applications were disposed of accordingly.