Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Delay of 1154 days in filing appeal before Commissioner of Income Tax (Appeals) was not condoned as reasons given, such as leaving income tax matters in hands of Chartered Accountant, ignorance of law, and being busy with agricultural and household activities, did not constitute "sufficient cause" u/s 249(3). Appellant remained inactive and grossly negligent after receiving assessment order, lacking due diligence. Such casual and lackadaisical approach against assessment order and consequential delay in filing appeal would not constitute "sufficient cause" u/s 249(3). Decision of Commissioner of Income Tax (Appeals) refusing to condone delay upheld.
Delay of 1154 days in filing appeal before Commissioner of Income Tax (Appeals) was not condoned as reasons given, such as leaving income tax matters in hands of Chartered Accountant, ignorance of law, and being busy with agricultural and household activities, did not constitute "sufficient cause" u/s 249(3). Appellant remained inactive and grossly negligent after receiving assessment order, lacking due diligence. Such casual and lackadaisical approach against assessment order and consequential delay in filing appeal would not constitute "sufficient cause" u/s 249(3). Decision of Commissioner of Income Tax (Appeals) refusing to condone delay upheld.
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