2024 (1) TMI 224 - SCH - Income Tax

Unrealized gains on revaluation of forward contracts as the bank accounts - depreciation in value of investment in HTM Securities - disallowances made u/s 36(1) (viia) - disallowance made u/s 14A - disallowances on account of AFS and HFT category of investments by relying upon the decisions which has not reached finality and even when the assessing authority rightly disallowed the depreciation on investment of Available for Sale (AFS) and held for trading (HFT) category investment and added to the taxable income - Condonation of delay in filing this petition - HELD THAT - There is gross delay of more than 261 days in filing this special leave petition. SLP (C) 2023 (12) TMI 659 - SC ORDER arising from the same common order has also been dismissed on the ground of delay. Following the same, this special leave petition also stands dismissed on the ground of delay keeping open the questions of law, if any, which arises in the matter.

Summary

The Supreme Court dismissed a special leave petition due to a gross delay of more than 261 days in filing. The petition was dismissed while keeping open any questions of law that may arise in the matter.