2023 (12) TMI 817 - SCH - Income Tax

Disallowance u/s 14A - As decided by HC 2022 (9) TMI 886 - DELHI HIGH COURT in cases where shares are held by assessee as stock-in-trade, the dividend earned on the said shares is incidental and would not attract the provisions of Section 14A - HELD THAT - As there is a huge delay of 350 days in filing this Special Leave Petition. The reasons seeking condonation of delay are not explained to the satisfaction of this Court. Further we find that the High Court has applied a judgment of this Court in the case of Maxopp Investment Limited 2018 (3) TMI 805 - SUPREME COURT and has granted relief to the respondent-M/S PNB Housing Finance Ltd. We are, therefore, not inclined to condone the delay or/and interfere in the matter on merits. Special Leave Petition is dismissed.

Summary

The Supreme Court dismissed a Special Leave Petition due to a delay of 350 days in filing, with unsatisfactory reasons for condonation. The High Court granted relief to the respondent based on a previous judgment, leading to the dismissal of the petition without interference on merits.