TMI Blog2019 (8) TMI 616X X X X Extracts X X X X X X X X Extracts X X X X ..... t delay in approaching the court is always deliberate. It must be remembered that in every case of delay there can be some lapse on the part of the litigant concerned. That alone is not enough to turn down his plea and to shut the door against him. If the explanation does not smack of mala fides or it is not put forth as part of a dilatory strategy, utmost consideration shall be shown to the suitor. But when there is reasonable ground to think that the delay was occasioned by the party deliberately to gain time, then the explanation offered for the delay need not be accepted. It is also a salutary guideline that when delay occurred due to laches on the part of a litigant is condoned, the opposite party shall be compensated by payment of cos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee is a Co-operative Bank. The appeal relates to assessment of income tax for the assessment year 2014-15. The Assessing Officer treated the income derived by the assessee by way of interest on the deposits made by it in the District Co-operative Bank and treasuries as income from other sources and declined to treat it as business income and accordingly, passed Annexure-A assessment order. 3. The assessee challenged the aforesaid order in appeal before the Commissioner of Income Tax (Appeals). The Appellate Authority confirmed the order of the assessing officer treating the interest on deposit as income from other sources. 4. The assessee filed appeal before the Income Tax Appellate Tribunal, Cochin Bench cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndone the delay. 9. It is well settled that a liberal approach has to be made in construing the expression sufficient cause occurring in Section 5 of the Limitation Act to advance substantial causes of justice. It is also well settled that a lis shall be decided on merits rather than on technicalities. Rules of limitation are not meant to destroy the right of parties. They are meant to see that parties do not resort to dilatory tactics, but seek their remedy promptly. The object of providing a legal remedy is to repair the damage caused by reason of legal injury. Law of limitation fixes a life span for such legal remedy for the redress of the legal injury so suffered. There is no presumption that delay in approaching the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act in its proper perspective. The substantial question of law raised in the appeal is answered in favour of the assessee and against the revenue. 11. Consequently, the appeal is allowed. The delay in filing the appeal I.T.A No. 415/Coch/2018 before the Income Tax Appellate Tribunal, Cochin Bench, shall stand condoned on remittance an amount of ₹ 10,000/-(Rupees Ten Thousand only) by the assessee towards costs to the department within a period of two weeks from today. On such remittance of the amount, the aforesaid appeal shall stand restored to the file of the Income Tax Appellate Tribunal, Cochin Bench and thereafter, the Tribunal shall dispose of the appeal afresh on merits. - - TaxTMI - TMITax - Income ..... X X X X Extracts X X X X X X X X Extracts X X X X
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