SC rejects delay condonation for SLP; upholds Tribunal's valid second assessment under Section 263 The SC dismissed the application for condonation of delay of 358 days in filing the SLP and consequently dismissed the SLP itself. The HC and Tribunal had ...
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SC rejects delay condonation for SLP; upholds Tribunal's valid second assessment under Section 263
The SC dismissed the application for condonation of delay of 358 days in filing the SLP and consequently dismissed the SLP itself. The HC and Tribunal had upheld that the Principal Commissioner of Income Tax's second revision under section 263 lacked reasons and was not justified. The Tribunal found the assessing officer's second assessment was legally permissible, with no non-application of mind or failure to reappreciate facts. Relief granted to the assessee by the Tribunal was affirmed.
The Supreme Court, with the Chief Justice and Justice Sanjay Kumar presiding, dismissed the application for condonation of delay and the special leave petition due to an unexplained delay of 358 days in filing. The Court stated it was "not inclined to condone the delay," resulting in the dismissal of both the condonation application and the petition.
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