2024 (10) TMI 1417 - SCH - Income Tax

Unexplained investments/ amounts deposited in the foreign bank account - delay filing SLP - Whether no concrete evidence to establish either the ownership of the alleged bank account or the alleged disputed deposits in those accounts to be belonging to the assessee - HC decided 2023 (11) TMI 759 - PUNJAB AND HARYANA HIGH COURT assessee being an agriculturist and only having a small holding of land apparently could not be in possession of such huge amounts, which were also in foreign currency. Nothing as such was produced on record that the same was transferred from India where he was doing some business. It is neither the case of the revenue that the amounts were credited from his income while doing business at abroad and neither he was based abroad for such long periods to generate that kind of income, thus decided against revenue. HELD THAT - There is gross delay of 233 days in filing this Special Leave Petition. The reasons assigned for seeking condonation of delay are neither satisfactory nor sufficient in law to be condoned. Hence, the application seeking condonation of delay is dismissed. Consequently, the Special Leave Petition also stands dismissed. Even otherwise, we find that the High Court has noted that no substantial question of law arose in the case. In passing the aforesaid order, we have followed the earlier order of this Court in Joginder Singh Chatha 2024 (10) TMI 874 - SC ORDER

Summary

The Supreme Court dismissed the Special Leave Petition due to a delay of 233 days in filing, with unsatisfactory reasons for condonation. The High Court found no substantial question of law in the case. The decision followed a previous court order dated 15.10.2024.