2024 (11) TMI 1326 - SCH - Income Tax

Validity of search - Petitioners state that the Revenue does not have the satisfaction note - Delay filling SLP - as decided by HC 2023 (9) TMI 1599 - BOMBAY HIGH COURT Even if the search is held to be invalid, the information or material gathered during the course thereof may be relied upon by Revenue for making adjustment to assessee s income in an appropriate proceeding, if so advised, and Revenue may utilize the information or material in such proceeding, as is permissible in law - HELD THAT - There is a delay of 323 and 322 days in filing the Special Leave Petitions respectively which has not been satisfactorily explained. Even otherwise, we have gone through the Special Leave Petitions and do not find any merit in the same. Special Leave Petitions are, therefore, dismissed on the ground of delay as well as on merits.

Summary

The Supreme Court dismissed the Special Leave Petitions due to a delay of 323 and 322 days in filing, as well as lack of merit. Pending applications were disposed of. (Case citation: TMI)