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SLP on s.41(1) addition rejected; delay and no cessation proof uphold assessee's continuing liability claim (1) SC dismissed the revenue's SLP challenging the HC's decision under s. 41(1) of the Income-tax Act. The HC had held that the assessee discharged its onus ...
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SLP on s.41(1) addition rejected; delay and no cessation proof uphold assessee's continuing liability claim (1)
SC dismissed the revenue's SLP challenging the HC's decision under s. 41(1) of the Income-tax Act. The HC had held that the assessee discharged its onus by evidencing the subsistence of the liability at year-end, and that the AO failed to establish cessation or remission of liability, rendering s. 41(1) inapplicable. Before SC, there was an unexplained delay of 450 days in filing the SLP. SC declined to interfere, noting both the inordinate delay and absence of any substantial ground on merits, thereby affirming the HC's ruling in favour of the assessee.
Issues: Delay in filing special leave petition, lack of grounds for interference with impugned judgment.
In this judgment by the Supreme Court, the main issue addressed was the delay of 450 days in filing the special leave petition. The Court noted that even on merits, there were no good grounds or reasons to interfere with the impugned judgment. The Court dismissed the application for condonation of delay and subsequently rejected the special leave petition. Any pending applications were disposed of as well. The decision was based on the lack of justification for the delay and the absence of substantial reasons to challenge the impugned judgment. The Court's ruling was clear and concise, emphasizing the importance of timely filings and the necessity of valid reasons to seek interference with previous judgments. The judges, including Hon'ble Mr. Justice Sanjiv Khanna, Hon'ble Mr. Justice Sanjay Karol, and Hon'ble Mr. Justice Sanjay Kumar, collectively agreed on the dismissal of the petition due to the delay and lack of substantive grounds for intervention.
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