Kerala HC Quashes IT Department’s delayed Rectification Application

Ramanthali Service Co-Operative Bank Ltd Vs ITO (Kerala High Court) Introduction: In a recent legal development, the Kerala High Court delivered a verdict in the case of Ramanthali Service Co-Operative Bank Ltd Vs ITO. The case pertains to a rectification application filed by the Income Tax Department (ITD) under Section 254(2) of the Income Tax Act, 1961, challenging an earlier order related to the assessment years 2009-2010. The central issue in this case was the delay of six months in filing the rectification application. Detailed Analysis: 1. Background: The petitioner, Ramanthali Service ...