FORTUNE PLOYMERS INDUSTRIES PVT. LTD. Vs. DCIT

JUDGEMENT

(1.) THIS is an appeal filed by the Assessee and is directed against the order dated 15.01.2013 of Ld. CIT(A) -XIII, New Delhi pertaining to the AY 1997 -98.

(2.) FACTS in brief: - The assessee is a company incorporated in July, 1988. It was engaged in the business of manufacturing of PVC Water Storage Tanks. The manufacturing facility was constituted at Plot No. 6B, Site B, Surajpur, Greater Noida, U.P. The company was financed by U.P. Financial Corporation (hereinafter called UPFC) and Pradeshiya Industrial and Investment Corporation of U.P. (hereinafter called PICUP).

(3.) THE Ld. Counsel for the assessee Mr. Raj Kumar Gupta submitted that the Ld. CIT(A) was wrong in not condoning the delay in filing of the appeal. He submitted that the delay in this case can be broken up into two parts - the first part is the delay of 2367 days which is attributable to the action of the official liquidator. He pleaded that the assessee was under a bonafide impression that the appeal must have been filed by the official liquidator. He vehemently contended that the official liquidator is the competent authority and the latches on his part cannot be fastened on the assessee. On the second part he submitted that the assessee got the information that the penalty has been demanded, when the official liquidator forwarded a demand notice, to the assessee on 18.11.2009 and after 198 days the assessee filed the appeal. He submits that after excluding 30 days allowed for filing the appeal, the balance period of delay would be 180 days which has to be explained.