9911796707
TMI Blog2025 (3) TMI 874X X X X Extracts X X X X X X X X Extracts X X X X ..... nt Years 2020-2021 and 2022-2023. 2. Learned counsel appearing for the petitioner would submit that as per the provisions of 12A(1)(b) of the Income Tax Act, 1961, (hereinafter referred as 'the IT Act'), with effect from Assessment Year 2020-2021, Audit Reports have to be filed one month before the due date for filing Return of Income. 2.2. As far as the Assessment Year 2020-2021 is concerned, initially, the due date for filing return of income was 31.10.2020 and therefore, the audit report in Form No.10B had to be filed on or before 30.09.2020. Thereafter, the due date for filing return of income was extended upto 15.02.2021, by the Central Board of Direct Taxes. As a result, the last date for filing audit report for the said yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Circular No.2 of 2022 dated 03.01.2020 had authorised the 1st respondent herein to admit the belated applications where there is delay upto 365 days in filing Form No.10B, the petitioner filed a petition under Section 119(2) of the IT Act before the 1st respondent for condonation of delay in filing audit report in Form No.10B on the reason that Covid-19 lockdown had restricted the regular operation of school movement and the delay is not intentional and with regard to the Assessment year 2022-2023, the audit report has been uploaded well before the due date and only the revised Form No.10B was filed belatedly on 19.11.2022. However, the 1st respondent vide proceedings dated 31.07.2024, rejected the applications filed by the petitioner for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder rejecting the application of the petitioner for condonation of delay in filing the audit report. 6. As far as the Assessment Year 2022-2023 is concerned, the audit report in Form No.10B is filed within the time on 30.09.2022 and the same was e-verified on 19.11.2022 and since there was an inadvertent error in the audit report, the revised audit report was filed on 19.11.2022, which shows that the delay is not intentional and the same would be the case under genuine hardship. It is obligatory to permit the assessee's to avail the benefits of exemption prescribed under the provision of law. Refusing to condone the delay could result into a meritorious matter being thrown out at the very threshold defeating the cause of justice. If the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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