Supreme Court Dismisses SLP on Delay in KIIT Case

CIT (Exemptions) Vs Kalinga Institute Of Industrial Technology (Supreme Court of India) The Supreme Court dismissed a Special Leave Petition (SLP) filed by the Commissioner of Income Tax (Exemptions) against Kalinga Institute of Industrial Technology (KIIT). The SLP pertained to a dispute where development fees collected by the educational trust were treated as capital expenditure. The court rejected the application for condonation of a 504-day delay in filing the SLP, citing a lack of adequate explanation for the prolonged delay. Consequently, the SLP was dismissed solely on the grounds of de...