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2023 (2) TMI 973 - HC - Income TaxCondonation of delay in filing the return of income - due date for filing return on income u/s 139(1) was 31.10.2019 and same was filed on 30.11.2020 u/s 139(4) - disallowing the brought forward losses as the same was not filed within the time stipulated u/s 139(1) - corporate insolvency resolution process was initiated against the company - grievance of the petitioner is that due to inaction on the part of the erstwhile management or resolution professional, the genuine business loss is not allowed to be carried forward for all times to come and if the delay is not condoned, the petitioner company would suffer - HELD THAT:- The petitioner has written on 02.01.2023, however the Board has not responded to this application for condonation of delay in filing the return of income for AY 2018-19 and 2019-20 u/s 119(2)(b) of the Act. There was a proposal on the part of the learned senior advocate Mr.Bhatt for the petitioners, seeking the directions against the respondent Board, for it to consider on expeditious basis the request for condonation of delay in filing the return of income for AY 2018-19 and 2019-20. Responding to the same, learned senior standing counsel Mr.Raval has taken instructions and has no objection to the matter being sent to the Board for its consideration and to be adjudicated at the earliest within a period of six (06) weeks. This Court has not entered into the merits at all and at the time of admission of this matter, with a specific request seeking the direction for the Board to decide the application dated 02.01.2023 at the earliest and since the parties are at ad idem on this issue, it has decided to relegate them and the matter is accordingly being finalized. Let the respondent No.2 take up the matter and decide within six (06) weeks from the date of receipt of the copy of this order.
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