2025 (10) TMI 314 - SCH - Income Tax

Special Leave Petition dismissed for 237-day delay; trust entitled to s.11 exemption on full income, corpus and donations

SC dismissed the Special Leave Petition for a 237-day delay and on merits. The HC had upheld the Tribunal's decision that the assessee trust was entitled ... Denial of exemption u/s 11 - adjustments made on entire income of the assessee trust including the corpus donation, voluntary donation and other income on the ground that the assessee did not filed the requisite form 10B along with the return of income - delay of 237 days in filing the Special Leave Petition. HC [2024 (10) TMI 664 - GUJARAT HIGH COURT] as held Tribunal correctly held that the claim of the assessee for exemption to its entire income u/s 11 is required to be allowed and AO/CPC was directed accordingly to delete the adjustment made in the intimation u/s 143 (1) HELD THAT:- The reasons assigned are neither satisfactory nor sufficient in law to condone the delay in filing the Special Leave Petition. Hence, the application seeking condonation of delay is dismissed. Even otherwise, we find nothing in the merits of the matter. Hence, the Special Leave Petition is dismissed on the ground of delay as well as on merits. There is a 'delay of 237 days in filing the Special Leave Petition.' The court holds that the 'reasons assigned are neither satisfactory nor sufficient in law to condone the delay in filing the Special Leave Petition,' and therefore the 'application seeking condonation of delay is dismissed.' On the merits, the court finds 'nothing' in favour of the petitioner and accordingly the 'Special Leave Petition is dismissed on the ground of delay as well as on merits.' All pending application(s), if any, are directed to stand disposed of. The decision thus rests on both procedural grounds (failure to satisfy statutory/bench-tested standards for condonation of delay) and substantive assessment of the petition's merits, resulting in dismissal without granting leave to proceed.