SC Upholds Rejection of Time-Barred Income Tax Revision for Lack of Sufficient Cause

Tata Project Provident Fund Trust Vs PCIT (Supreme Court of India) Supreme Court of India dismissed the special leave petition filed against the judgment of the Telangana High Court, thereby affirming the High Court’s refusal to interfere with the rejection of a time-barred revision application under Section 264 of the Income-tax Act, 1961. While the delay in approaching the Supreme Court was condoned, the Court declined to interfere on merits and dismissed the petition, letting the High Court’s decision stand. Read HC Judgment: IT Revision Application Rejected Due to 7 Year Delay Without...