Depreciation at higher 30% on tippers denied as activity was mining, s.147 reassessment invalid; appeal dismissed for 244-day delay The SC held the taxpayer's claim for depreciation at a higher 30% rate on tippers was not allowable because the business was mining/excavation ...
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Depreciation at higher 30% on tippers denied as activity was mining, s.147 reassessment invalid; appeal dismissed for 244-day delay
The SC held the taxpayer's claim for depreciation at a higher 30% rate on tippers was not allowable because the business was mining/excavation contracting, not hiring motor lorries. Relying on the HC's earlier decision, the AO lacked fresh tangible material to reopen assessment under s.147; the exercise amounted to a mere change of opinion. The petition to this Court was dismissed for inordinate delay of 244 days in filing the SLP, the explanation not constituting sufficient cause, and the appeal was therefore dismissed on grounds of delay.
Having heard the learned Additional Solicitor General, the Court held that the "inordinate delay of 244 days in filing the Special Leave Petition" could not be condoned because the explanation did not constitute "sufficient cause." Consequently, the "petition(s) stands dismissed on the ground of delay." The Court also directed that pending application(s), if any, "shall stand disposed of." The decision rests solely on procedural grounds relating to limitation and the absence of a legally adequate justification for the delay, rather than on the merits of the underlying dispute. No respondent appeared.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
