Supreme Court Upholds Excise Duty on Stock Transfers to Sister Units Should Be Valued Under Rule 8...

The Supreme Court has refused to condone the filing of an SLP against an order upholding a merger and a short-term capital loss claim. The court's decision reinforces the principle of judicial finality and the strict deadlines for filing appeals. The ruling signals that the court will not entertain appeals that are filed after a significant delay, especially when the case has already been decided by a lower court. This judgment is a crucial reminder to taxpayers.