2025 (5) TMI 1721 - SC - Income Tax

Gain on foreign exchange fluctuation - whether was in connection with its business activity? - HC 2022 (10) TMI 1282 - GUJARAT HIGH COURT decided issue in favour of assessee - delay in filling SLP HELD THAT - There is a gross delay of 825 days in filing the Special Leave Petition which has not been satisfactorily explained by the petitioner - Revenue. 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 filed by the petitioner (Revenue) due to a "gross delay of 825 days" in filing, which was "not been satisfactorily explained." The Court held that the petition is dismissed "on the ground of delay," and all pending applications are also disposed of.