Income Tax Act Section 245C eligibility deadline extended from February 1 to March 31, 2021 following precedent

M/s. PANKAJA KASTURI HERBALS INDIA PVT. LTD., DR. J. HAREENDRAN NAIR, HAILSTONE INNOVATIONS PVT. LTD, R.J. WILLIAMS Versus THE ASSISTANT COMMISSIONER OF INCOME TAX, DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 (1), THIRUVANATHAPURAM, UNION OF INDIA

M/s. PANKAJA KASTURI HERBALS INDIA PVT. LTD., DR. J. HAREENDRAN NAIR, HAILSTONE INNOVATIONS PVT. LTD, R.J. WILLIAMS Versus THE ASSISTANT COMMISSIONER OF ... The Kerala High Court, through Justice Dinesh Kumar Singh, adjudicated writ petitions challenging certain orders (Ext. P8, P10, and P39-P45) related to eligibility deadlines under Section 245C(5) of the Income Tax Act, 1961, as amended by the Finance Act, 2021. The Court relied on the Division Bench ruling of the Madras High Court in M/s Jain Metal Rolling Mills v. Union of India [MANU/TN/6417/2023], which "read down" the retrospective deadline from 1st February 2021 to 31st March 2021. Key directions included: (i) extending the last date of eligibility to 31.03.2021; (ii) deeming applications filed between 01.02.2021 and 31.03.2021 as pending for consideration by the Interim Board; and (iii) setting aside rejections based solely on non-pending status as of 31.01.2021. The Kerala High Court accordingly allowed the petitions, set aside the impugned orders, and remitted the cases for fresh decisions consistent with the Madras High Court's authoritative interpretation, emphasizing adherence to the statutory scheme and merit-based consideration.