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2010 (4) TMI 44 - HC - Income TaxDelay in filing an appeal by revenue – delay of 517 days – held that - The view taken by the Supreme Court in Gold Coin Health Food Pvt. Ltd: [2008 -TMI - 30245 - SUPREME COURT] was that when there was a loss return filed by the assessee and the Assessing Officer determined a loss, but at a reduced figure, the assessee would be liable for penalty under Section 271(1)(c) provided the conditions specified therein are satisfied. It is after the decision of the Supreme Court in Gold Coin Health Food (2008 -TMI - 30245 - SUPREME COURT) that the department has woken up and has decided to file this appeal after a delay of 517 days. There is no other reason given for the delay in filing of the appeal. – no sufficient cause for condoning the delay in filing the appeal inasmuch as the order of the tribunal dated 26.10.2007 had attained finality – decided in favor of assessee
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