2025 (2) TMI 1185 - SCH - Income Tax

Supreme Court Dismisses Special Leave Petition, Preserves Legal Questions for Future Determination Under Established Precedent

PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL 1 CHENNAI & ORS. Versus M/s ASVINI FISHERIES PRIVATE LIMITED

SC dismissed SLP, following precedent in Velammal Chennai Educational Trust case. Court disposed of delay condonation application and pending motions, ... Ceasure of income tax settlement commission - restriction to the filing of the application before the Interim Board for Settlement -Finance Act, 2021, which was notified on 01.04.2021, the ITSC was abolished and an Interim Board was constituted only to deal with applications pending as of 01.02.2023 - revenue restricted the filing of the application before the Interim Board for Settlement only by the assesses who were eligible to file the application for settlement on 31.01.2021 - HELD THAT:- Following the order passed in Union of India and Others vs. Velammal Chennai Educational Trust [2024 (9) TMI 101 - SC ORDER] this Special Leave Petition also stands dismissed. Consequently, the application seeking condonation of delay stands disposed of along with all pending applications. The Supreme Court of India, in an order delivered by Hon'ble Justices B.V. Nagarathna and Satish Chandra Sharma, dismissed the Special Leave Petition filed by the petitioner, following the precedent set in Union of India and Others vs. Velammal Chennai Educational Trust [SLP (C) Diary No. 21948/2024]. The Court also disposed of the application for condonation of delay and all pending applications. Importantly, the Court noted that the 'question of law, if any, shall be kept open,' thereby refraining from deciding on substantive legal issues in this order.