Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
The dominant issue was whether an appeal filed beyond the statutory period prescribed under Section 85(3A) of the Finance Act, 1994 could be entertained when the delay exceeded the maximum condonable limit (60 days plus a further 30 days). The tribunal held that the right of appeal is purely statutory and cannot be enlarged on equitable considerations; filing in an incorrect forum or attributing delay to one's own mistake does not confer a right to bypass a clear limitation bar, nor attract exclusion of time under general limitation principles. Consequently, the time-barred appeal was not entertainable and was dismissed. - CESTAT
The dominant issue was whether an appeal filed beyond the statutory period prescribed under Section 85(3A) of the Finance Act, 1994 could be entertained when the delay exceeded the maximum condonable limit (60 days plus a further 30 days). The tribunal held that the right of appeal is purely statutory and cannot be enlarged on equitable considerations; filing in an incorrect forum or attributing delay to one's own mistake does not confer a right to bypass a clear limitation bar, nor attract exclusion of time under general limitation principles. Consequently, the time-barred appeal was not entertainable and was dismissed. - CESTAT
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