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2015 (2) TMI 714 - HC - Income TaxClaim of deduction under section 80-IB denied - return had not been filed within the stipulated period as provided under section 80AC read with section 139 of the Act - rejection of condonation of delay - Held that:- The Board, vide order dated July 27, 2009 rejecting the application seeking condonation of delay does not satisfy the test of being a reasoned and speaking order. The Board had rejected the application on the ground that appeal was pending before Commissioner of Income-tax (Appeals) which is legally unsustainable. See Kranti Associates P. Ltd. v. Masood Ahmed Khan [2010 (9) TMI 886 - SUPREME COURT OF INDIA]. Accordingly matter remanded to the Central Board of Direct Taxes to decide afresh after affording an opportunity of hearing to the parties in accordance with law by passing a speaking and reasoned order. - Decided in favour of assessee by way of remand.
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