Balaji Landmarks LLP Eartwhile Vs Central Board of Direct Taxes (Bombay High Court)
Bombay High Court held that assessee couldn’t be put to considerable disadvantage due to belated advice given by CA. Further, in case delay is not condoned, grave hardship will be suffered as genuine losses will not be permitted to be carried forward. Accordingly, delay in filing return condoned.
Facts- The present Petition challenges an Order dated 7th August 2024 passed by Respondent No. 1, rejecting the Petitioner’s Application for condonation of delay in filing its return of income for the Assessment Year 2018-19. The Petitioner is also seeking appropriate directions/orders to get the delay of 5 months in the filing of the said return of income for the A.Y.2018-19 condoned.
For the impugned A.Y., the due date for filing a return of income, in which return an Assessee was returning a loss, u/s. 139(3) r.w.s. 139(1) of the Income Tax Act, 1961 was 31st October 2018. The Petitioner, however, filed its return belatedly on 30th March 2019 within the time permissible u/s. 139(4). Accordingly, the Petitioner on 15th June 2023, in light of Respondent No.1’s Circular No. 9 of 2015, filed an application for condonation of delay of 5 months under Section 119(2)(b) of the Act. This Application was filed by the Petitioner within the time stipulated in the said Circular, i.e. within a period of 6 years.
