Addition of Capital Gains by Scrutiny Assessment u/s 143(3) r.w.s 147 of IT Act: SC Condones Delay in SLP filed by Income Tax Dept [Read Order]

The Supreme Court condones delay in the special leave petition (SLP) filed by the Income Tax Department while allowing the exemption from filing certified copy of judgment.

The SLP arose out of out of impugned final judgment and order dated 08-03-2023 in WP No. 1994/2022 passed by the High Court of Judicature at Bombay.

A Division Bench of the Bombay High Court comprising Justices Kamal Khata and Dhiraj Singh Thakur in the above case observed that “the petitioner has disclosed all the primary facts to the respondent as can be evinced from the responses to the original proceedings. We are, accordingly, of the opinion that the original assessment was completed with, after having considered all the facts and material.”

It was further noted by the High Court that “The impugned notice under Section 148 of the Income Tax Act dated 31st March 2021 and assessment order passed under Section 143 (3) r.w.s. 147 of the Income Tax Act dated 31st March 2022 are quashed and set aside and all consequent actions in furtherance thereto are stayed.”

A Two-Member Bench comprising Justice Abhay S Oka and Justice Ujjal Bhuyan observed that “Delay condoned. Application (IA No.264425/2023) for exemption from filing certified copy of the impugned judgment is allowed. Leave granted.”

To Read the full text of the Order CLICK HERE

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ASSISTANT COMMISSIONER OF INCOME TAX & ORS vs NOSHIR DARABSHAW TALATI , 2024 TAXSCAN (SC) 109