Gujarat HC Condoned Delay in Filing Income Tax Return Due to CIRP & Fire

Sysco Industries Limited. Vs Chairman, CBDT (Gujarat High Court) Summary: The Gujarat High Court in Sysco Industries Limited v. Chairman, CBDT addressed a petition challenging the order dated 20 November 2023 passed under Section 119(2)(b) of the Income Tax Act, 1961, wherein the Central Board of Direct Taxes (CBDT) rejected Sysco Industries Limited’s application seeking condonation of delay in filing income tax returns for Assessment Years (AY) 2020–21 and 2021–22 and permission to carry forward business losses and unabsorbed depreciation. The petitioner, Sysco Industries Limited, a pub...