SLP Dismissed for 483-Day Delay; Revision under Section 263 Requires Error and Revenue Prejudice

COMMISSIONER OF INCOME TAX - INTERNATIONAL TAXATION-3 Versus SAIF PARTNER INDIA IV LTD

COMMISSIONER OF INCOME TAX - INTERNATIONAL TAXATION-3 Versus SAIF PARTNER INDIA IV LTD - TMI The Supreme Court examined a Special Leave Petition accompanied by a condonation application seeking to excuse a delay of 483 days. After hearing the parties, the Court found the explanation for the delay insufficient and thus rejected the condonation application. Consequently, the Special Leave Petition was dismissed as barred by limitation. All pending applications related to the matter were disposed of. The Court emphasized adherence to strict limitation periods, underscoring that unexplained or excessive delays cannot be condoned.