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2010 (9) TMI 23 - HC - Income TaxCondonation of delay in filing the return - carry forward loss - return was filed after the statutory audit was completed on 15-11-2001 and the audit under Section 44AB was completed on 28-11-2001. – The principal ground on which the condonation of delay was sought by the Petitioner was on account of the fact that the statutory auditors for the Assessment Year 2000-2001 were appointed by the Commissioner of Corporation and the Registrar Cooperative Societies , Maharashtra State, Pune, on 3-9-2001 and since the said statutory auditors had to complete the audit of 53 branches spread all over the country, the same consumed some time and the said statutory auditors were able to complete the audit only on 15-11-2001 and the audit under Section 44AB was completed on 28-11-2001 and that the return for the said year was filed the very next day. – The other reason cited in the said application was that there was a change in management – Held that: - the Petitioner cannot be blamed for the delay in carrying out its audit, as the same was beyond its control. - It is well settled that in matters of condonation of delay a highly pedantic approach should be eschewed and a justice oriented approach should be adopted and a party should not be made to suffer on account of technicalities. - the delay in filing the return to stand condoned and the Petitioner would be entitled to the carry forward and set off of losses in accordance with law.
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