2024 (7) TMI 1503 - SC - Income Tax

Review petition - inordinate delay of 1067 days in filing each of the review petitions - Addition u/s 37 and 40A - distribution of profit in the guise of excessive price paid to the members against purchase of sugarcane - excessive and unreasonable cane purchase price paid to the members of the sugarcane Co-operative Society - HELD THAT - As no satisfactory explanation has been given. Thus, the review petitions are liable to be dismissed on the ground of delay having not been explained satisfactorily. We have considered the review petitions on merits as well. We have perused the Judgment and Order 2019 (3) TMI 321 - SUPREME COURT which has been sought to be reviewed. There is no error apparent on the record. Even otherwise, there is no ground for review. Review Petitions are dismissed on the ground of delay having not been explained satisfactorily as also on merits.

Summary

Issues: Application for permission to file review petitions with inordinate delay.

In this judgment by the Supreme Court, an application seeking permission to file review petitions was allowed despite an inordinate delay of 1067 days in filing each petition without a satisfactory explanation. The court noted that the review petitions could be dismissed due to the unexplained delay. However, the court proceeded to consider the review petitions on merits as well. Upon perusing the Judgment and Order dated 05th March 2019 which was under review, the court found no apparent error on the record and no grounds for review. Consequently, the review petitions were dismissed both for the delay not being satisfactorily explained and on merits.