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of <h1>Supreme Court Rejects Special Leave Petition, Dismisses Application and Terminates Legal Challenge Decisively</h1> <h3>THE PRINCIPAL COMMISSIONER OF INCOME TAX-3 Versus M/s N.K. INDUSTRIES LTD.</h3> The SC dismissed the special leave petition as misconceived, rejecting both the petition and the application for condonation of delay. All pending ... Disallowance of fictitious loss, Unexplained expenses on account of debit note, Addition u/s 68 HELD THAT:- The present special leave petition is misconceived. Accordingly, the application for condonation of delay as well as the special leave petition are dismissed. The Supreme Court, with the Chief Justice and Justice Sanjay Kumar presiding, dismissed the special leave petition as 'misconceived.' Consequently, both the application for condonation of delay and the special leave petition were denied. The Court further ordered that any pending applications stand disposed of.
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