Condonation of delay in tax appeal refused as an absolute bar, with Tribunal directed to decide the merits.

Delay in filing the statutory appeal was not treated as a final bar where the explanation of reliance on a tax consultant was found unconvincing, yet the Court considered that substantial issues on merits were involved, including the claimed benefit under Section 80P and the cited precedents. In the peculiar facts, the appellant was not denied the first appellate remedy solely on the ground of delay, and the Tribunal was directed to hear the appeal on merits after both sides were heard.

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Issues: Whether the delay in filing the statutory appeal before the Tribunal ought to have been condoned and the appeal heard on merits.

Analysis: The explanation for delay rested on the appellant's reliance on its tax consultant to take the necessary steps, which was treated as self-serving and not supported by convincing material. At the same time, the matter involved substantial legal issues on the merits, including the applicability of the cited precedents and the claimed benefit under Section 80P of the Income-tax Act, 1961. The Court held that the appellant should not be denied the first appellate remedy solely on the ground of delay in the peculiar facts of the case.

Conclusion: The delay objection was not accepted as a ground to finally shut out the appeal, and the matter was directed to be considered by the Tribunal on merits after hearing both sides.

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