Comprehensive guidelines to be followed for Condonation of delay in filing refund claim and claim of carry forward of losses u/s 119(2)(b) of the Income-tax Act

Condonation of delay in tax claims under Section 119(2)(b): delegation, timelines and verification requirements clarified.

Guidelines prescribe conditions and procedure for condonation of delay under Section 119(2)(b), delegating authority to income-tax commissioners within specified monetary limits and reserving cases above those limits to the Board. No application is entertainable beyond six years from the end of the relevant assessment year, subject to limited exceptions; applications should be disposed within six months. Delegated authorities must ensure correctness and genuineness of claimed income/loss/refund, may direct inquiries, and apply specified conditions to belated supplementary refund claims including ineligibility for interest and source-based refund origins.