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2017 (9) TMI 170 - HC - Income TaxSubmission of return for losses u/s 80 - Set-off/carry forward losses of earlier years if the return had been filed after due date - section 80 creating an absolute bar debarring the assessee from claiming set-off/carry forward - bonafide reasons for delay - Held that - The embargo in section 80 cannot be treated as a straitjacket one which could be applied without reference to different provisions included in section 139 of the Act and elsewhere to enlarge the time for filing the return. It will also be open to the assessee to take recourse to the powers of the Central Board of Direct Taxes in obtaining clarifications or directions and orders which may enable a particular assessee to seek indulgence where the returns were not filed in time for bona fide reasons. We are of the view that in the case in hand the appellant which is a public sector body stands to plead that its accounts would be audited only under the control of the Comptroller and Auditor General of India and without such exercise being carried out it will be disabled from filing its return with the requisite documents including the auditor s certificate and audit statement. Ends of justice therefore requires that the appellant has to be given an opportunity to meet the situation by placing before the Assessing Officer appropriate application as may be permissible in law or by moving the Central Board of Direct Taxes within the time prescribed in terms of the circulars for relief as may be available to the appellant. To enable this process the impugned decisions are liable to be set aside without expressing anything on the merits of the claim of the appellant s eligibility for carrying forward the losses. Appeal is allowed answering the question formulated as above and resultantly setting aside the decision of the Tribunal and that of the Commissioner of Income-tax (Appeals) as also the Assessing Officer.
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