Manali Properties & Finance Pvt. Ltd. Vs DCIT (ITAT Kolkata)
ITAT Kolkata held that condonation of delay in filing of an appeal is liable to be allowed as sufficient cause shown. Accordingly, order of CIT(A) set aside and matter restored back for fresh adjudication.
Facts- The assessee is engaged in the business of trading, dealing, investment in shares and securities. The case of the assessee has been selected for scrutiny by the AO and the AO has added the sum of 6,14,83,565/- to the income of the assessee as income from other sources.
CIT(A) wherein the appeal of the assessee has been dismissed as the appeal was filed by the assessee in the delay of 561 days and 266 days and as per the CIT(A), the assessee has failed to prove the sufficient cause for delay in filing the both appeal. Being aggrieved and dissatisfied the assessee has preferred the present appeal.
Conclusion- In Shakuntala Devi Jain Kuntal Kumari [AIR 1969 SC 575], this Court held that Section 5 gives the courts a discretion which in respect of jurisdiction is to be exercised in the way in which judicial power and discretion ought to be exercised upon principles which are well understood; the words `sufficient cause’ receiving a liberal construction so as to advance substantial justice when no negligence nor inaction nor want of bona fides is imputable to the appellant.”
