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of <h1>Income Tax Delay Condonation Revised: CCIT and CIT to Handle Claims, Section 119(2)(b) Updates Authority Limits.</h1> The circular addresses the condonation of delay in filing income tax returns under section 119(2)(b) of the Income-tax Act, 1961, and the allowance of refunds. It revises the delegation of authority for accepting or rejecting delay condonation applications. The Chief Commissioners of Income-tax (CCIT) can handle claims up to Rs. 5,00,000, while Commissioners of Income-tax (CIT) manage claims up to Rs. 1,00,000. Claims exceeding Rs. 5,00,000 remain under the Central Board of Direct Taxes. Conditions include no interest on delayed refunds, scrutiny for delayed claims, and restrictions on claims older than six assessment years. These instructions apply from assessment year 1996-97 onwards.
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