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2005 (3) TMI 78 - DELHI HIGH COURTPower given to the Board under section 119(2) to entertain a belated claim – delay in application for seeking concessions u/s 80MM – approval from Central Board of Direct Taxes in that behalf – Board rejecting the application – petitioner also made prayer for condonation of such delay - circumstances stated by the applicant clearly demonstrate that cases of hardship would justly and fairly invite the application of the power vested in the Board under section 119(2) r.w.s. 80MM - we would set aside the orders passed by the Board dated April 11, 1980, and May 14, 1981, issued by and on behalf of the Director, Central Board of Direct Taxes holding that the approval cannot be made effective from the assessment year 1978-79 instead of 1979-80 and that the Board has no power to condone the delay respectively. We hold that the petitioner was entitled to have the benefit effective from the financial year 1978-79 which has already been granted by the Board with effect from 1979-80.
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