HC Dismisses Appeal Due to Lack of Valid Explanation for 227-Day Delay in Filing

PCIT Vs Milestone Gears Private Limited (Himachal Pradesh High Court) Introduction: In a significant ruling, the Himachal Pradesh High Court dismissed an appeal filed by the Principal Commissioner of Income Tax (PCIT) against Milestone Gears Private Limited. The appeal, concerning a 100% deduction under Section 80IC of the Income Tax Act, 1961, was dismissed due to a substantial delay of 224 days in refiling. Background of the Case The case originates from an assessment made by the Income Tax Department on Milestone Gears Pvt. Ltd. for the assessment year 2012-2013. The initial order, passed o...