Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
The dominant issue was whether delay in filing the return could be condoned under section 119(2)(b) on the ground of "genuine hardship." The Court held that ignorance of tax law is no excuse, and the plea of illiteracy did not establish reasonable cause, particularly since the assessee had timely filed the return for an earlier assessment year, indicating awareness of the filing process. Relying on the principle that statutory time limits must be adhered to and extension is not a vested right, the Court found no perversity in the authority's refusal to condone delay and dismissed the writ petition. - HC
The dominant issue was whether delay in filing the return could be condoned under section 119(2)(b) on the ground of "genuine hardship." The Court held that ignorance of tax law is no excuse, and the plea of illiteracy did not establish reasonable cause, particularly since the assessee had timely filed the return for an earlier assessment year, indicating awareness of the filing process. Relying on the principle that statutory time limits must be adhered to and extension is not a vested right, the Court found no perversity in the authority's refusal to condone delay and dismissed the writ petition. - HC
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