Court extends notification period under Income Tax Act, grants relief to petitioner The court granted the petitioner's request for the extension of a notification issued for specific Assessment Years to cover additional years under ...
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Court extends notification period under Income Tax Act, grants relief to petitioner
The court granted the petitioner's request for the extension of a notification issued for specific Assessment Years to cover additional years under Section 10(46) of the Income Tax Act. The writ petition was disposed of with directions to the authority to consider the petitioner's application promptly, provide a personal hearing, issue a speaking order, and grant the liberty to seek further remedies if aggrieved. Any adverse decision was stayed for eight weeks from the date of the order, with parties instructed to act based on the digitally signed copy of the order.
Issues involved: The principal grievance of the petitioner/assessee is the non-availability of the benefit of Section 10(46) of the Income Tax Act, 1961 for certain Assessment Years. The petitioner seeks extension of a notification issued for specific Assessment Years to cover additional years.
Details of the Judgment:
Issue 1: Benefit of Section 10(46) of the Income Tax Act
The petitioner/assessee raised concerns regarding the non-availability of the benefit of Section 10(46) of the Income Tax Act for certain Assessment Years. They filed an application dated 06.04.2021, followed by multiple reminders, requesting the extension of a notification issued for AYs 2014-15 to 2018-19 to cover AYs 2019-20 to 2023-24. The notification in question was issued through a judgment dated 25.08.2020 passed by a coordinate bench in a related case. The court noted a similar approach taken for another authority in a separate judgment dated 14.12.2022.
Issue 2: Directions and Disposal of Writ Petition
The writ petition was disposed of with specific directions to the concerned authority. The authority was instructed to dispose of the petitioner's application within six weeks of receiving a copy of the judgment. A personal hearing was to be accorded to the petitioner's authorized representative, with the option of conducting the hearing via video conferencing. The authority was required to issue a speaking order considering the relevant judgments and the notification dated 24.12.2020. The petitioner was granted the liberty to seek further remedies if aggrieved by the authority's decision. Additionally, any adverse decision by the authority was not to be implemented for eight weeks from the date of rendering. The parties were instructed to act based on the digitally signed copy of the order.
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