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of <h1>Petition Dismissed Over 752-Day Delay Due to Lack of Justification; All Pending Applications Disposed.</h1> <h3>RADHA MADHAV INVESTMENTS PRIVATE LIMITED Versus DEPUTY COMMISSIONER OF INCOME TAX & ANR.</h3> The SC dismissed the Special Leave Petition due to an unexplained delay of 752 days. The petitioner failed to provide a satisfactory justification for the ... Correct head of income - surplus arising from the transfer and assignment of right, title and interest in the agreements for acquisition of office premises - whether the office premises could be treated as stock-in-trade by the Appellant–Assessee or its investment in fixed assets - delay filling SLP As decided by HC [2022 (7) TMI 288 - BOMBAY HIGH COURT] Tribunal is correct in holding that the surplus arising from the transfer and assignment of right, title and interest in the agreements for acquisition of office premises is an adventure in the nature of trade and therefore, assessable as business income. HELD THAT:- There is a delay of 752 days in filing the Special Leave Petition which has not been satisfactorily explained. Special Leave Petition is accordingly dismissed on the ground of limitation. The Supreme Court dismissed the Special Leave Petition due to a delay of 752 days, which was not satisfactorily explained. Pending applications were disposed of. (TMI citation)
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