2021 (11) TMI 1099 - HC - Income Tax

Condonation of delay - delay of 750 days in filing the appeal - as submitted by appellant that initially the Department was of the view that the matter being of low tax effect, appeal cannot be preferred. But subsequently it came to light that in terms of the Circular issued by the CBDT in matters relating to Short Term Capital Gains/Long Term Capital Gains, appeals have to be filed even if the tax effect is below the threshold limit. HELD THAT - After hearing the learned counsel for the parties, we are of view that the reason assigned by the petitioner for not being able to file the appeal earlier is acceptable. Therefore, we exercise the discretion and condone the delay in filing the appeal. The application for condonation of delay is allowed.

Summary

The Calcutta High Court heard an appeal with a 750-day delay in filing. The appellant/revenue sought condonation of delay due to a change in Department's view on tax effect threshold. The Court accepted the reason and allowed the delay condonation. The appeal was listed for admission on 20th December, 2021.