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2022 (7) TMI 637 - HC - Income TaxExemption u/s 11 - registration granted to it u/s 12AA - delay in the Petitioner making a claim for giving effect to the registration u/s 12AA - HELD THAT:- In Dalmia Power Ltd. (2019 (12) TMI 991 - SUPREME COURT) the Supreme Court directed the Department to accept the revised returns filed by the Appellants there for the AY 2016-17 since the delay on account of the schemes of arrangement in amalgamation being sanctioned by the NCLT were not attributable to the Appellant. In the present case too, the Court is of the view that the delay in the Petitioner making a claim for giving effect to the registration u/s 12AA of the Act for the AYs in question cannot be attributed to the Petitioner in the facts and circumstances pointed out hereinbefore. Petitioner to again make an application u/s 119(2)(b) for condoning the delay in filing its revised returns to be considered and processed in accordance with law. The said delay should be taken to have been condoned in the facts and circumstances pointed out hereinbefore. Accordingly, a direction is issued to the Deputy Commissioner of Income Tax (Circle-1), Cuttack (DCIT) to process the revised returns of the Petitioner for the AYs 2003-04, 2004-05 and 2005-06 wherein the Petitioner has asked for the registration under Section 12AA granted to it by the CIT by the order dated 23rd March, 2017 to be given effect to and to consider its claim for exemption thereunder. The assessment order on the revised returns be passed by the DCIT, after hearing the Petitioner, within a period of three months from today and in any event, not later than 10th October, 2022.
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