Validity of reopening of assessment as barred by limitation rejected; Supreme Court dismissed SLP for delay and merits.

Validity of reopening of assessment focused on whether extended limitation under the new time-bar regime applies retrospectively; the court treated the six year limitation for reassessment notices as determinative and found the impugned reopening barred by limitation. The petitioner failed to satisfactorily explain delay in seeking relief, and the Supreme Court refused to interfere with the High Court's setting aside of the reopening notice, dismissing the Special Leave Petition both on delay and on merits.

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Issues: (i) Whether the gross delay in filing the Special Leave Petition should be condoned. (ii) Whether the impugned High Court order warrants interference on merits.

Issue (i): Whether the gross delay of 327 days in filing the Special Leave Petition should be condoned.

Analysis: There is a finding that the delay of 327 days was not satisfactorily explained by the petitioner. The Court considered the explanation offered and found it inadequate to justify condonation of such delay.

Conclusion: Condonation of delay is refused; the SLP is dismissed on the ground of delay.

Issue (ii): Whether the impugned order of the High Court merits interference.

Analysis: Independent consideration was given to the merits of the challenge to the impugned order and no compelling reason was found to disturb the High Court's decision.

Conclusion: No interference is warranted on merits; the SLP is dismissed on merits.

Final Conclusion: The Special Leave Petition is dismissed both on the ground of inordinate/dishonestly explained delay and on merits, resulting in refusal of relief sought in the petition.

Ratio Decidendi: Where a Special Leave Petition is filed with a substantial unexplained delay, and no reason is shown to condone the delay, the petition may be dismissed on the ground of delay; if, additionally, there is no sufficient basis to disturb the impugned order on merits, the petition may be dismissed on merits as well.

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