Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
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Delay in filling appeal before the Tribunal - appeal is time-barred by 24 days - The assessee failed to respond to notices issued u/s 143(2)/142(1) for scrutiny assessment, leading to the ld. Assessing Officer passing the assessment order ex-parte u/s 144(1) based on best judgment - Despite being provided with multiple opportunities to respond to notices and present its case, the assessee failed to do so at various stages of the proceedings. The Tribunal noted the lack of submission on merit by the assessee, which significantly weakened its position. Moreover, the explanation provided for the delay in filing the appeal was deemed insufficient. Consequently, the Tribunal dismissed the appeal as time-barred.
Delay in filling appeal before the Tribunal - appeal is time-barred by 24 days - The assessee failed to respond to notices issued u/s 143(2)/142(1) for scrutiny assessment, leading to the ld. Assessing Officer passing the assessment order ex-parte u/s 144(1) based on best judgment - Despite being provided with multiple opportunities to respond to notices and present its case, the assessee failed to do so at various stages of the proceedings. The Tribunal noted the lack of submission on merit by the assessee, which significantly weakened its position. Moreover, the explanation provided for the delay in filing the appeal was deemed insufficient. Consequently, the Tribunal dismissed the appeal as time-barred.
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