2024 (3) TMI 1415 - SCH - Income Tax

Bogus purchases - bogus accommodation bills - estimation of income - hawala transactions from certain parties who were only providing accommodation sale bills - gross delay of 606 days in filing this special leave petition. HELD THAT - We note that this Court in 2024 (1) TMI 1443 - SC ORDER and similar matters has dismissed the petition(s) on merits. We are not satisfied with the explanation offered seeking condonation of delay in filing the special leave petition. Also by following the order supra we dismiss this special leave petition both on the ground of delay as well as on merits. We also observe that this petition has to be dismissed owing to low tax effect.

Summary

The Supreme Court of India dismissed a special leave petition due to a significant delay of 606 days in filing, lack of satisfaction with the explanation provided for the delay, and low tax effect. The Court referenced a previous order dismissing similar petitions on merits. Consequently, the petition was dismissed both for delay and on merits, with pending applications disposed of accordingly.