Home
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (6) TMI 1296 - HC - Income TaxIssues Involved: Condonation of delay in filing Civil Review petition; Entitlement for exemption under section 80-P(2)(a)(i) of the Income Tax Act, 1961; Taxability of transfer charges received; Maintainability of the review petition based on subsequent judgments. Condonation of Delay: The Samiti filed an application seeking condonation of delay in filing the Civil Review petition, attributing the delay to being unaware of the judgment passed by the Court. The Court found the explanation for the delay of 619 days quite strange and surprising, putting blame on the counsel. The Court noted the need to form a prima facie opinion on the maintainability of the review petition. Entitlement for Exemption under Section 80-P(2)(a)(i): The Samiti challenged an order regarding exemption under section 80-P(2)(a)(i) of the Income Tax Act, 1961 on interest received and the taxability of transfer charges. The Court examined the provisions and relevant laws, concluding that no substantial question of law was involved, and dismissed the Tax Appeal with costs. Taxability of Transfer Charges Received: The Samiti cited a Supreme Court judgment on transfer charges, arguing for a review of the Court's decision based on the new legal position. The Income Tax Department objected to the review petition, highlighting the lack of explanation for the delay, absence of an apparent error in the previous order, and the timing of the Supreme Court judgment cited by the Samiti. Maintainability of Review Petition Based on Subsequent Judgments: The Court discussed the relevance of subsequent judgments on the review petition's maintainability. It referenced the Code of Civil Procedure and explained that a decision of a Superior Court after the judgment in question does not form grounds for review. The Court also considered a recent Supreme Court split verdict and emphasized the importance of adhering to statutory provisions to avoid uncertainty in the legal system. Final Decision: The Court dismissed the application for condonation of delay and subsequently dismissed the Civil Review petition, citing reasons related to the explanation for the delay and the statutory provisions governing review petitions.
|