TMI Blog2020 (2) TMI 166X X X X Extracts X X X X X X X X Extracts X X X X ..... d:- 28-1-2020 - UJJAL BHUYAN MILIND N. JADHAV, JJ. Mr. Sanjiv M. Shah, Advocate for the Appellant. Mr. Nirmal Chandra Mohanty, Advocate for the Respondent. P.C.:- 1. Heard Mr. S.M. Shah, learned counsel for the appellant; and Mr. N.C. Mohanty, learned standing counsel, revenue for the respondent. 2. This appeal under Section 260A of the Income Tax Act, 1961 (briefly the Act hereinafter) has been preferred by the assessee against the order dated 28th February, 2017 passed by the Income Tax Appellate Tribunal, Mumbai Bench C , Mumbai (briefly the Tribunal hereinafter) in Income Tax Appeal No.3403/Mum/2014 for the assessment year 2001-02. 3. From the materials on record it is seen that the related Income Tax A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Vs. Income Tax Officer dated 15th January, 2016 passed in Notice of Motion Nos.492 of 2015 and 493 of 2015 in Income Tax Appeal (L) Nos.2079 and 2077 of 2014 , wherein this court declined to condone delay of 865 days. 7. Submissions made by learned counsel for the parties have been considered. 8. At the outset, we may advert to the impugned order passed by the Tribunal, relevant portion of which is extracted hereunder:- 11. Thus examining the present case on the touchstone of above, we find that in this case there has been inordinate delay of about 10 years in filing the appeal. Firstly, the assessee had submitted that it was an inadvertent error. In another affidavit assessee had tried to submit that appeal papers were prepare ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of limitation which provides for definite consequence on the rights of the parties does not become ineffective. The rule of limitation is provided for general welfare of the society so as to put a period beyond which a party cannot agitate an issue in litigation. The rationale for the same is that once a litigation is decided, the dispute must repose. This is particularly so, if the party aggrieved by the order does not agitate the issue before the appellate forum within the time provided. The opposite party can then proceed on the basis that the dispute is settled and arrange its affairs on that basis. Thus, if the aggrieved party has not moved the appellate forum within the prescribed time, resulting in other securing an accrued rig ..... X X X X Extracts X X X X X X X X Extracts X X X X
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