2024 (7) TMI 852 - SCH - Income Tax

Validity of assessment u/s 153A - allegation of non application of mind by the ACIT Tax in granting approval u/s 153D - As decided in HC 2023 (7) TMI 1214 - DELHI HIGH COURT approval was granted without examining the assessment record or the search material. Tribunal was right that there was absence of application of mind by the ACIT in granting approval un/s 153D. It is not an exercise dealing with a immaterial matter which could be corrected by taking recourse to Section 292B, issue decided against revenue. HELD THAT - Having regard to peculiar facts of these cases, we are not inclined to interfere in the matters. Hence, the Special Leave Petitions are dismissed. Pending applications shall stand disposed of.

Summary

Issues: Dismissal of Special Leave Petitions

In the present judgment, the Supreme Court, comprising Hon'ble Mrs. Justice B. V. Nagarathna and Hon'ble Mr. Justice Dipankar Datta, considered the issue of dismissing Special Leave Petitions after hearing the counsel. The Court, after condoning the delay and taking into account the peculiar facts of the cases, decided not to interfere in the matters, leading to the dismissal of the Special Leave Petitions. Additionally, the Court ordered that pending applications shall stand disposed of.

This judgment reflects the Court's exercise of discretion in deciding not to interfere in the matters at hand, based on the specific circumstances presented before them. The Court's decision to dismiss the Special Leave Petitions underscores the importance of considering the unique facts and context of each case before making a determination. The order to dispose of pending applications further indicates the Court's intention to bring closure to related matters in a comprehensive manner. Overall, the judgment highlights the Court's adherence to principles of judicial discretion and case-specific evaluation in rendering its decision.