Case Law Details
Marayamuttom Service Co-Operative Bank Ltd Vs ITO (Kerala High Court)
Introduction: In a recent judgment, the Kerala High Court addressed a crucial aspect of income tax return filing. The case, titled ‘Marayamuttom Service Co-Operative Bank Ltd vs. ITO,’ dealt with the power of the Commissioner of Income Tax (CIT) to condone delays in filing income tax returns under Section 119(2)(b) of the Income Tax Act. This article explores the key details and implications of this judgment.
Detailed Analysis
1. Background: The petitioner, Marayamuttom Service Co-Operative Bank Ltd, sought a writ of mandamus to compel the 1st and 3rd respondents to open an online window for filing the annual income tax return for the assessment year 2022-23. The petitioner had failed to file the return within the prescribed timeline due to its reliance on an Audit Report from the Co-operative Department, which it obtained after the deadline had passed.
2. Statutory Provisions: Section 139(1) of the Income Tax Act sets the timeline for filing income tax returns. If this timeline is not met, Sub Section (4) of Section 139 allows assessees to file the return before three months prior to the end of the relevant assessment year or before the completion of the assessment year, whichever is earlier. Sub Section (8A) of Section 139 permits filing updated returns. Furthermore, Section 119(2)(b) empowers the Commissioner of Income Tax to condone delays in filing the return.
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