2025 (5) TMI 220 - SCH - Income Tax

Validity of assessment order passed u/s 144C - assessment order passed by FAO two years after the DRP directions - Refund of amount paid in excess of the legitimate tax due on the returned income along with applicable interest - As decided by HC 2023 (11) TMI 449 - BOMBAY HIGH COURT assessment order passed by FAO two years after the DRP directions is time barred and cannot be sustained. Consequently the ROI as filed has to be accepted. Petitioner is entitled to receive the refund together with interest in accordance with law. The procedure to be completed within 30 days of this order being unloaded. HELD THAT - Heard the learned Additional Solicitor General appearing for the petitioners. There is a gross delay of 295 days in filing the Special Leave Petition which has not been satisfactorily explained by the petitioners. Special Leave Petition is accordingly dismissed on the ground of delay.

Summary

The Supreme Court, through Hon'ble Justices J.B. Pardiwala and R. Mahadevan, dismissed the Special Leave Petition due to an unexplained "gross delay of 295 days" in its filing. The Court emphasized that the delay was not satisfactorily explained by the petitioners, leading to dismissal "on the ground of delay." Consequently, all pending applications related to the petition were also disposed of.