2024 (5) TMI 35 - SCH - Income Tax

Delay in filling appeal before SC - Claim of long-term capital gains on shares in terms of Section 10(38) - Assessee not claiming exemption u/s 10(38) at the stage of the assessment proceedings but turned around and make such claim of wanting to cross-examine persons - Denial of principles of natural justice - denial of an opportunity to cross examine the entry providers HELD THAT - There is gross delay of 309 days in filing the special leave petition. The explanation offered is not sufficient in law to condone the delay. Hence, the application seeking condonation of delay is dismissed. Consequently, the special leave petition is also dismissed keeping open the question of law, if any.

Summary

The Supreme Court dismissed the special leave petition due to a gross delay of 309 days in filing it. The application seeking condonation of delay was also dismissed. The question of law remains open. Pending application(s) stand disposed of.