2025 (7) TMI 262 - SCH - Income Tax

Supreme Court rejects petition filed 350 days late, refuses to condone delay without valid reasons

The SC dismissed the Special Leave Petition filed with an inordinate delay of 350 days. The Court refused to condone the delay, stating no reason existed ... LTCG - Invocation of Section 50C - transaction relating to an immovable property - assessee had purchased the subject property and took stamp duty paid in respect of that transaction into consideration - HC [2024 (2) TMI 1562 - DELHI HIGH COURT] held Section 50C of the Act on its plain language, is clearly concerned with the vendor or the seller of the property in question. The said provision can have no application to a purchaser - Delay filling SLP - HELD THAT:- We see no reason to condone the inordinate delay of 350 days in filing the Special Leave Petition. Hence, petition(s) stands dismissed on the ground of delay. The Supreme Court, in a partial bench comprising Hon'ble Mr. Justice Pamidighantam Sri Narasimha and Hon'ble Mr. Justice R. Mahadevan, dismissed the Special Leave Petition due to an 'inordinate delay of 350 days' in its filing. The Court explicitly stated, 'we see no reason to condone the inordinate delay,' thereby rejecting the petition on grounds of delay. Consequently, all pending applications related thereto were disposed of.