SC Dismisses Income Tax Appeal Due to 503-Day Delay and Lack of Sufficient Cause

CIT Vs IBASIS Netherlands B.V. (Supreme Court of India) In CIT Vs IBASIS Netherlands B.V., the Supreme Court dismissed the Special Leave Petition filed by the Revenue on the ground of an inordinate delay of 503 days, holding that the explanation provided did not constitute sufficient cause. Consequently, the petition was rejected solely on limitation grounds. During the proceedings, it was submitted that the issue involved was substantially similar to earlier cases, including one decided in favour of the taxpayer. The Revenue was unable to distinguish the present case from the earlier decision...