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2014 (2) TMI 132 - HC - Income TaxCondonation of delay u/s 119(2)(b) for claiming refund of tax paid - Refund of Tax on TDS – Payment made in Optional early retirement scheme – Held that:- The application under section 119(2)(b) of the Act is being denied by adopting a very hyper technical view that the application for condonation of delay was made beyond 6 years from the date of the end of the assessment year 2004-05. - The revised return of income filed on 08 September 2011 should itself be considered as application for condonation of delay under section 119(2)(b) of the Act and refund granted – The Decision in Chandra Ranganathan and ors. vs. Commissioner of Income Tax [2009 (10) TMI 498 - SUPREME COURT OF INDIA] followed. The amounts received by retiring employees of Reserve Bank of India opting for the scheme are eligible for exemption under section 10(10C) of the Act – thus, the revenue is directed to grant refund to the assessee – Decided in favour of Assessee.
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