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2012 (12) TMI 523 - AT - Income TaxCondonation of Delay in filling appeal before Tribunal – Delay of 2053 days - Whether the petition filed by the assessee seeking condonation of delay of 2053 days in filing the appeal is liable to be accepted – Held that:- Even if an assessee can’t explain delay on day to day basis, at least it should be able to demonstrate its inability in a reasonable manner. Here, the assessee is not a naïve or a first time litigant. This appeal itself is second round of litigation. We notice that neither there are sufficient particulars nor satisfactory explanation. The CIT(Appeals) passed order on 29.8.2006 whereas in the year 2011, for the first time, the assessee filed its representation(supra). No doubt, the law of limitation is only a tool to serve justice. When there is sufficient explanation, even time barred lis can be entertained by condoning delay. Hence, in our opinion, this hopelessly time barred appeal is liable to be dismissed for want of limitation. Issue decides against assessee Claim u/s. 40(b) – Fresh Claim before ITAT- Whether the CIT(A) order confirming the findings of the AO in rejecting assessee’s claim u/s 40(b)B is to be upheld or modified as per the respective stands of the parties – Held that:- Assessee needs for filing a revised return for making a fresh claim. In first round of assessment neither such claim had been raised nor was any revised return filed. Assessee preferred to raise claim the benefit of Sec.40(b) that too in the absence of books of accounts and other supporting documents. Issue decides against assessee
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