2024 (4) TMI 807 - SCH - Income Tax

Condonation of delay - gross delay of 597 days in filing the special leave petition - Exemption u/s 11 allowed on activity of the assessee of letting out gallery frequently for a price as merely because a small percentage of the income of the Assessee is from letting out of its premises and sale of paintings, the essential activity of the Assessee would not cease to be charitable for the purposes of Sections 11 and 12 HELD THAT - The explanation offered is not to our satisfaction as no sufficient cause to condone the delay has been made out. Hence, the application seeking condonation of delay is dismissed. Consequently, the Special Leave Petition is dismissed on the ground of delay keeping open the question of law, if any, which arises in this matter. Pending application(s) shall stand disposed of.

Summary

The Supreme Court dismissed the Special Leave Petition due to a delay of 597 days in filing, with no sufficient cause to condone the delay. The question of law, if any, remains open for consideration.