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of <h1>Share valuation dispute u/s56(2)(vii)(c) and r.11UA in reassessment challenge; delayed SLP dismissed as time-barred.</h1> The dominant issue was whether the SLP challenging reopening of assessment and valuation of shares could be entertained despite delay. Applying the ... Validity of reopening of assessment - valuation of share - delay of 141 days in filing this Special Leave Petition - As decided by HC [2024 (9) TMI 1860 - DELHI HIGH COURT] issue of valuation, if liable to be undertaken, had to follow the route as prescribed by Section 56(2)(vii)(c) of the Act read along with Rule 11UA of the Income Tax Rules, 1962 - HELD THAT:- There is a delay of 141 days in filing this Special Leave Petition and we do not find any plausible and bona fide explanation to condone this inordinate delay. The Special Leave Petition is, accordingly, dismissed on the ground of delay. Issues: Whether the delay of 141 days in filing the Special Leave Petition should be condoned.Analysis: The petition was filed with a delay of 141 days and no plausible or bona fide explanation was found to justify condonation. A coordinate Bench had recently dismissed a similar petition on the ground of delay, which was relied upon in assessing the appropriateness of condoning the present delay. Governing principles require that unexplained, inordinate delay in filing a Special Leave Petition should not be condoned where no sufficient justification is shown.Conclusion: The delay is not condoned and the Special Leave Petition is dismissed on the ground of delay.
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