TMI Blog2022 (11) TMI 1413X X X X Extracts X X X X X X X X Extracts X X X X ..... r not taking care for preservation of the records and papers. If any of the officers and/or staff are found to be negligent, costs awarded by us shall be recovered from their salaries in proportionate to their lapses, of course after giving a chance of hearing to the concerned officer and staffs. The cost has to be paid within a period of three weeks from date as prayed for the learned Counsel for the appellant. In default of payment of costs this order will stand recalled and subsequent order, if any passed in favour of revenue will also stand recalled. As respondent submits that till date the costs has not been remitted. In such circumstances, the order dated 21st November, 2011 itself provides for the contingency. It has been order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 20,91,38,000/- should be treated as part of sale consideration for transfer of membership card of Delhi Stock Exchange in terms of agreement dated January 5, 1995 and as such liable to be assessed as long term capital gain ? We have heard Mr. Om Narayan Rai, learned standing counsel for the appellant/revenue and Mr. Arvind Agarwal, learned counsel assisted by Mr. Farhan Ghaffar, learned Advocate for the respondent/assessee. The first objection raised by the learned counsel for the respondent is that the revenue has preferred appeal against the very same impugned order passed Tribunal in ITA/127/2006 and the same was dismissed by the Hon ble Division Bench by order dated 17th May, 2006 and, therefore, a fresh appeal against the ve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 21st November, 2011 in this appeal, a decision can be taken. For better appreciation, the order is quoted hereinbelow: The Court:- We have heard the learned counsel for the parties and have gone through the application for condonation of delay. The delay in preferring the appeal is 2428 days. The explanation given in the petition is far from satisfactory. Ordinarily the matter of this nature should have been dismissed in limine. However, when we notice the tax effect in this matter is so high it would not be proper for us to reject this application without hearing the matter. Therefore, we reluctantly condone the delay and we think that the appeal which is intended to be admitted, be placed for hearing on next Monday. This order ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
