TMI Blog2020 (6) TMI 155X X X X Extracts X X X X X X X X Extracts X X X X ..... for AY 2007-08 by 06.11.2014 itself and hence he has filed revision petition u/s 264 of the Act before Ld Pr. CIT. It appears that the assessee did not take any step at that point of time. It is also not clear as to how the assessee could file revision petition u/s 264 of the Act without a copy of intimation, which was sought to be revised. CIT(A) has held that the delay is about 8 years. Assessee was aware of the intimation by the time he filed revision petition and the delay is about 18 months from that date. Accordingly, he has refused to condone the delay in filing appeal before him. CIT(A) has given proper reasons for refusing to condone the delay. In fact, the assessee has taken different stands in pursuing the matter and hence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s 10(38) of the Act against the long term capital gain earned on sale of shares. 2. We heard the parties and perused the record. The background of the case requires to be discussed first. The assessee filed his return of income for AY 2007-08 on 31.07.2007. The total income of the assessee included Long term capital gain of ₹ 2,58,60,190/- earned on sale of shares. As per the information available in pages 19 to 26 of the paper book, the assessee has sold shares of a company named I-Flex Solutions Ltd. As per information available at pages 13 to 14 of the paper book, the assessee has sold shares of M/s Oracle Fin Services Software Ltd. Since the Statement of total income has not been attached in the paper book and since the Ld A.R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee holding that the same is time barred. It is pertinent to note that Ld Pr. CIT has observed that the intimation u/s 143(1) has been generated on 20-03-2009 and accordingly computed the limitation period from that date. 5. Thereafter, the assessee filed a rectification petition u/s 154 of the Act on 22-03-2017 before the assessing officer seeking exemption u/s 10(38) of the Act. It was stated therein that the copy of intimation was given to the assessee by a letter dated 17-01-2017 and hence the rectification petition has been filed in time. According to Ld A.R, the said rectification petition has not been disposed of by the AO yet. 6. At this stage, the assessee also filed an appeal before Ld CIT(A) on 25.03.2017 against the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by her order dated 27.2.2017 which was claimed to have been served on the appellant on 2.3.2017. Now, the appellant was chosen to file the application under section 154 before the assessing authority on 22.3.2017. Thereafter, the appellant has chosen to fie the present appeal on 25.3.2017. Accordingly, it is claimed that there is delay of 34 days in fling this appeal. I have examined the chronology. 8. The appellant must have filed the appeal within 30 days of the receipt of the intimation dated 20.3.2009. Even assuming that it took 10 days to serve the intimation the same must have been filed by 30.04.2009. Thus, counted from this date he appeal is filed late by about 8 years. 9. During the appellate proceedings it came to my not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t take any step at that point of time. It is also not clear as to how the assessee could file revision petition u/s 264 of the Act without a copy of intimation, which was sought to be revised. 12. However, the assessee has claimed before Ld CIT(A) that he has received copy of intimation only on 20-01-2017 and accordingly submitted that the delay in filing appeal before him was only 34 days. However, the Ld CIT(A) has held that the delay is about 8 years. He has further stated that the assessee was aware of the intimation by the time he filed revision petition and the delay is about 18 months from that date. Accordingly, he has refused to condone the delay in filing appeal before him. 13. In our view, the Ld CIT(A) has given proper rea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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