154-Day Delay: SC Dismisses Revenue Plea in Penny Stock Addition Case

PCIT Vs Neelu Mahansaria (Supreme Court of India) The Revenue filed a Special Leave Petition before the Supreme Court challenging the judgment in the case. The Supreme Court noted a gross delay of 154 days in filing the petition. As the delay was not satisfactorily explained, the Special Leave Petition was dismissed on the ground of delay alone. All pending applications were also disposed of. Read Gujarat HC Judgment in this case: Gujarat HC Deleted Penny Stock Addition Due to Lack of Adverse Evidence Before the Gujarat High Court, the Revenue had filed a tax appeal under Section 260A of th...