2024 (4) TMI 207 - SCH - Income Tax

Delay filling appeal before SC - Addition u/s 40A(3) - payment in cash - purchase of stock in trade - Decision of the Third Member of ITAT confirmed - HC held 2022 (7) TMI 339 - CALCUTTA HIGH COURT revenue does not state that any cash transaction took place. HELD THAT - There is gross delay of 521 days in filing this special leave petition. The explanation offered is not sufficient in law so as to condone the said delay. In the circumstances, the application seeking condonation of delay is dismissed. Consequently, the special leave petition also stands dismissed.

Summary

The Supreme Court dismissed a special leave petition due to a gross delay of 521 days in filing, with the explanation provided not sufficient to condone the delay. The application seeking condonation of delay was also dismissed, resulting in the dismissal of the special leave petition. Any pending applications were disposed of accordingly.