Petition dismissed for 282-day unexplained delay; merits not considered despite full evidence on penny-stock sales and STT paid SLP dismissed by SC for a 282-day unexplained delay; pending applications disposed. The HC had found that the assessee provided complete evidence ...
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Petition dismissed for 282-day unexplained delay; merits not considered despite full evidence on penny-stock sales and STT paid
SLP dismissed by SC for a 282-day unexplained delay; pending applications disposed. The HC had found that the assessee provided complete evidence (contract notes, demat details, bonus-share information) for penny-stock sales, transactions executed on BSE with STT paid, and no allegation of broker price manipulation, but SC declined to entertain the petition solely on delay grounds without addressing merits.
The Supreme Court, in an order delivered by Justices J. B. Pardiwala and R. Mahadevan, dismissed the Special Leave Petition due to a "gross delay of 282 days" in filing, which was "not satisfactorily explained by the petitioner." Consequently, the petition was dismissed "on the ground of delay," and all pending applications were also disposed of.
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