Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
CESTAT dismissed the appellant's condonation of delay application for appeals. Despite being a large corporate entity with established legal infrastructure, the appellant failed to provide sufficiently substantive reasons for delay. The tribunal found the explanations vague and unconvincing, including references to cyclone impact and advocate unavailability. Settled legal principles require detailed day-wise explanations for delay, which were absent in this case. The court emphasized that negligence, gross inaction, and lack of bona fides cannot justify time-barred appeals. Consequently, the application was rejected, reinforcing that condonation of delay is not a mere procedural formality but requires compelling and reasonable justifications for each day's postponement.
CESTAT dismissed the appellant's condonation of delay application for appeals. Despite being a large corporate entity with established legal infrastructure, the appellant failed to provide sufficiently substantive reasons for delay. The tribunal found the explanations vague and unconvincing, including references to cyclone impact and advocate unavailability. Settled legal principles require detailed day-wise explanations for delay, which were absent in this case. The court emphasized that negligence, gross inaction, and lack of bona fides cannot justify time-barred appeals. Consequently, the application was rejected, reinforcing that condonation of delay is not a mere procedural formality but requires compelling and reasonable justifications for each day's postponement.
Note: It is a system-generated summary and is for quick reference only.