Period of limitation should not come as a hindrance to do substantial justice between parties; however, at same time, a party cannot sleep over its right ignoring statute of limitation and without giving sufficient and reasonable explanation for delay. Officers of revenue should be well aware of statutory provisions and period of limitation and should pursue its remedies diligently.
CIT v. Lata Mangeshkar Medical Foundation (2019) 410 ITR 347/ 254 Taxman 347 (Bom.)(HC) Editorial: SLP of revenue is dismissed (SLP No.42811 of 2018)(2019) 414 ITR 1(St.)(SC)
S.260A : Appeal to High Court – Limitation – Delay of 318 days -No reasonable explanation for delay – Delay was not condoned.