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TMI Blog2023 (2) TMI 387X X X X Extracts X X X X X X X X Extracts X X X X ..... he filing of the appeal. On the contrary such assessees should be heavily penalized for wasting the time of Courts by filing such applications, seeking rectification in the orders, well beyond the period of limitation prescribed for the same. Any delay in making the application beyond the limitation prescribed in law, is to be justified with a reasonable cause for entertaining the application if any. In the present case, in the absence of any reasonable cause forwarded by the assessee for the delay in filing of its MA, we see no reason for entertaining the same, and the MA filed by the assessee is dismissed as non-maintainable, being filed beyond limitation prescribed in law. - Misc. Application No.48/Ahd/2022 IN ITA No.1065/Ahd/2017 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cutta 115 ITR 519 (SC) inasmuch as the Hon'ble Supreme Court in that case in very clear language has mentioned in so many paragraphs that it is not necessary that any income should in fact have been earned as result of the expenditure. The Hon'ble Supreme Court has given observation as under: It is also interesting to note that according to Revenue, the expenditure would disqualify for deduction only if no income results from such expenditure in a particular assessment year but if there is some income, however small or meagre the expenditure would be eligible for deduction. This means that in a case where the expenditure is Rs 1000/- if the expenditure would be deductible and there would be resulting loss of Rs 999/- under t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he petition filed before us, the reasons for delay , in clear and simple words, is that the assessee never cared to go through the order passed by the ITAT in its case when it was initially received by it on 18.6.2019 and went through the same only when order of the ITAT was followed by the ld.CIT(A) in the case of the assessee in subsequent assessment year i.e. Asst.Year 2015-16 for dismissing the assessee s appeal. We fail to understand, how this lackadaisical attitude of the assessee can justify in any manner the delay in the filing of the appeal. On the contrary such assessees should be heavily penalized for wasting the time of Courts by filing such applications, seeking rectification in the orders, well beyond the period of limitation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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