2025 (4) TMI 220 - SCH - Income Tax

Assessment of trust - corpus donation receipts - addition u/s 68 - corpus donation had been received by the petitioner-Company from entities as struck off the record of the registered companies and therefore they had to be treated as shell companies - As decided by HC 2023 (11) TMI 947 - PUNJAB HARYANA HIGH COURT appellant could not produce sufficient material to dispel the suspicion which had been raised about the donations received from the companies which were not even based geographically close to the educational institution and the reason to grant the donation was never properly explained HELD THAT - There is a delay of 388 days in filing the Special Leave Petition which has not been satisfactorily explained. Even otherwise we have gone through the Special Leave Petition and do not find any merit in the same. Special Leave Petition is therefore dismissed on the ground of delay as well as on merits.

Summary

The Supreme Court, presided over by HON'BLE MR. JUSTICE J. B. PARDIWALA and HON'BLE MR. JUSTICE R. MAHADEVAN, dismissed the Special Leave Petition due to a "delay of 388 days" in filing, which was "not satisfactorily explained." Additionally, the Court found no merit in the petition itself. Consequently, the petition was dismissed "on the ground of delay as well as on merits." Any pending applications related to the petition were also disposed of.