Supreme Court Condones Tax Delay, Holds Assets

Authority: Supreme Court of India

Order Date: 24-07-2026

Case Overview

• Petitioners: Income Tax Officer Ward 1(1) (1) & ANR; Respondent: Patel Rajeshkumar Naranbhai and Co.
• SLP (Civil) Diary No. 34229/2026 arising from impugned final judgment dated 19-12-2025 in SCA No. 12109/2023 of the High Court of Gujarat, Ahmedabad.
• Petition sought condonation of delay in filing I.R. IA No. 188586/2026 and admission of the case.
• Hearing held on 20-07-2026 before Hon'ble Justices Manoj Misra and Vijay Bishnoi.
• Counsel for petitioners: Mr. Raghavendra P Shankar, A.S.G.; Mr. Sudarshan Lamba, AOR; Mr. B K Satija, Adv.; Mr. Vidya Vijaysinh Pawar, Adv.; Mr. Rahul Arya, Adv.; Mr. Bhuvan Kapoor, Adv.

Final Outcome

1. Delay in filing the petition is condoned.

2. The Court directs that a notice be issued, which must be returned within six weeks.

3. Until further notice, any seized articles that have not yet been released shall remain in safe custody and shall not be released pursuant to the impugned order.

Topics: Taxation, Judicial Orders