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2020 (4) TMI 400 - AT - Income TaxCondonation of delay - delay in filing the appeal before Ld. CIT(A) - delay of 2 & ½ years to 3 & ½ years - Rectification u/s 154 - assessee has not offered to tax based on provision of Sec. 115JB, even though assessee has taxable book Profit - HELD THAT:- Since it was in bonafide belief that assessee is eligible to claim deduction u/s 80IB against the book profit and filed an appeal before Ld. CIT(A) for the AY 2010-11 and believed that it will get favourable decision. However, the issue was debatable and assessee was in bonafide belief that the rectification u/s 154 of the Act cannot be made. However, AO has passed the rectification order u/s 154 of the Act without following the submission of assessee. Assessee was in bonafide belief that Ld. CIT(A) will pass favourable order and with improper guidance from its counsels, failed to file the appeal before Ld. CIT(A) for all those AYs on time. Considering the overall situations and assessee has a debatable issue on merits and for the sake of justice, we are remitting this issue back to the file of Ld. CIT(A) to condone the delay in filing the appeal for all those assessment years and decide the issue on merits on issue of Sec 115JB as well as chargeability of interest u/s 234B and 234C. Accordingly grounds raised by the assessee for this assessment year is allowed for statistical purposes.
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