2025 (1) TMI 1014 - SCH - Income Tax

Validity of reopening of assessment - Reasons to believe - addition u/s 68 - whether the notice issued u/s 148 and the order passed disposing of the objection can be said to be legal in eye of law? - delay filling SLP - As decided by HC 2024 (2) TMI 1506 - GUJARAT HIGH COURT AO has while issuing notice and recording reasons completely gone into oblivion to the fact that in the present case the assessment order u/s 143(3) was passed keeping in mind all the details available with regard to transaction done and on NMCE platform - AO has mechanically recorded that the return was processed only u/s 143(1) which itself goes to suggest that recording of reasons at the instance of Assessing officer was nothing but in a mechanical manner and with no application of mind. HELD THAT - There is a gross delay of 209 days in filing the Special Leave Petition which has not been satisfactorily explained by the petitioner. Even otherwise we see no reason to interfere with the impugned order passed by the High Court. Special Leave Petition is accordingly dismissed on the ground of delay as well as merits.

Summary

The Supreme Court, presided over by HON'BLE MR. JUSTICE J.B. PARDIWALA and HON'BLE MR. JUSTICE R. MAHADEVAN, addressed a Special Leave Petition filed by the petitioner, represented by Mr. Raghavendra P Shankar, A.S.G., and others. The Court noted a "gross delay of 209 days" in filing the petition, which was "not satisfactorily explained" by the petitioner. The Court found "no reason to interfere with the impugned order" of the High Court. Consequently, the Special Leave Petition was "dismissed on the ground of delay as well as merits." All pending applications were also disposed of.