Delay in Approaching Revision Authority under Income Tax Act is not Condonable hen Assessee Fails to Show Sufficient Reason: Kerala HC [Read Order]

It was noted that the appellant assessee cannot gain an undue advantage by revisiting assessments that the Department is barred from reopening due to statutory limitations
Kerala High Court - Revision Authority - Income Tax Act - delay condonation - tax revision application - taxscan

The Kerala High Court has held that the delay in approaching the revision authority under the Income Tax Act is not condonable when assessee fails to show sufficient reason. During the years the appellant, Equity Intelligence India Pvt. Ltd had declared the profit on the sale of shares as capital gains and had obtained the…

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