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2016 (6) TMI 645 - BOMBAY HIGH COURT

2016 (6) TMI 645 - BOMBAY HIGH COURT - [2016] 387 ITR 721 - Application under Section 119(2)(b) - condonation of delay - Claim for exemption under Section 10 (10C) denied - amount received on voluntarily retirement from the State Bank of India (SBI) - whether the revised return of income though filed beyond a period of limitation, be entertained, as otherwise it would cause genuine hardship to assessee? - Held that:- We note that Section 119(2)(b) of the Act is very clear. Under the above provis .....

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his alone is sufficient for the purpose of allowing application under Section 119(2)(b) of the Act, as this is the only requirement. There is no requirement of any specific instructions being issued by the CBDT to the Income Tax Department to entertain the revised return of income in case of exemployee of SBI filed after expiry of period of limitation. - In the above view, the delay on the part of the Petitioner in filing revised return of income would lead to genuine case of hardship as mad .....

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r. Mandar Vaidya i/b. D. A. D'Souza For The Respondent : Mr. Suresh Kumar P.C: This Petition by a senior citizen under Article 226 of the Constitution of India assails the order dated 10th February, 2012 passed under Section 119 (2) (b) of the Income Tax Act, 1961 (the Act), by the Commissioner of Income Tax, Thane. By the impugned order, the Petitioner's application for condonation of delay in filing the revised return of income for Assessment Year 200809, has been rejected. This, the P .....

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claiming that to the extent of ₹ 5,00,000/received by her on a retirement from the SBI under the Exit Option Scheme, is exempted under Section 10(10C) of the Act. (c) On 24th March, 2010, the return of income was processed under Section 143 (I)of the Act. By intimation, her claim for exemption under Section 10(10C) of the Act, was disallowed. (d) Thereafter, Petitioner learnt that the benefit of Section 10(10C) of the Act was being extended by the Revenue to various exemployees of SBI who .....

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er Section 10(10C) of the Act. 3 As the Petitioner had filed her revised return of income for the Assessment Year 200809 on 30th March, 2013, the time to file a revised return had expired. In the above view, the Petitioner made an application under Section 119(2)(b) of the Act to the Principal Commissioner of Income Tax, Thane, claiming that the revised return of income though filed beyond a period of limitation, be entertained, as otherwise it would cause genuine hardship to her. 4 The Commissi .....

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filed by the assessee u/s. 119(2)(b) of the I.T. Act, 1961 is hereby rejected. 5 It would, therefore, be noticed that the Principal Commissioner of Income Tax in the impugned order was satisfied that the Petitioner would face genuine hardship if the revised application is not entertained. However, same has been rejected on the ground that the CBDT has not issued specific instructions, directing the Department to extend the period of limitation in case of where revised return of income as filed b .....

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