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of <h1>Supreme Court Rejects Petition Due to 489-Day Filing Delay, Condonation Application Also Denied.</h1> <h3>THE ASSISTANT COMMISSIONER OF INCOME TAX Versus AIM FINCON PVT. LTD.</h3> The SC dismissed the Special Leave Petition owing to a substantial delay of 489 days in filing, with the reasons provided for the delay considered ... Reopening of assessment - petitioner was a beneficiary of accommodation entries - Delay filling SLP - as decided by HC [2022 (12) TMI 1460 - GUJARAT HIGH COURT] action of reopening by the AO was bad in law, mainly for the reason that it was passed on a mere change of opinion on the same set of facts, which was disclosed and considered by the assessing officer during previous AY - HELD THAT:-There is gross delay of 489 days in filing this Special Leave Petition. The reasons assigned for explaining the said delay are neither satisfactory nor sufficient in law to be condoned. Hence, the application seeking condonation of delay is dismissed. Consequently, the Special Leave Petition also stands dismissed. The Supreme Court dismissed the Special Leave Petition due to a gross delay of 489 days in filing, with reasons for the delay deemed unsatisfactory. The application seeking condonation of delay was also dismissed.
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