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2017 (8) TMI 286 - HC - Income TaxCondonation of delay - reasons for delay of 1050 days in filing the appeal before ITAT - Held that:- Law of limitation has been enacted which is based on public policy so as to prescribe time limit for availing legal remedy for redressal of the injury caused. The purpose behind enacting law of limitation is not to destroy the rights of the parties but to see that the uncertainty should not prevail for unlimited period. Under Section 5 of the 1963 Act, the courts are empowered to condone the delay where a party approaching the court belatedly shows sufficient cause for not availing the remedy within the prescribed period. The meaning to be assigned to the expression “sufficient cause” occurring in Section 5 of the 1963 Act should be such so as to do substantial justice between the parties. The existence of sufficient cause depends upon facts of each case and no hard and fast rule can be applied in deciding such cases. The reasons given by the assessee regarding matrimonial dispute of his daughter and huge loss in his business were not found to be satisfactory. The explanation tendered by the assessee does not satisfy the test of sufficient cause as required under Section 5 of the 1963 Act. Consequently, no substantial question of law arises and the appeal stands dismissed.
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