DELAY CONDONATION- FORM 68

[PARALIJAYAPALAN ANILKUMAR]

Respected Members,

A delay of four months had occured while filing 68 to avail the immunity u/s. 270AA. Even though we had complied all others conditions the assessing authority rejected our application and levied penalty on the ground of delay. Is there any provision to condone the delay or any precedent in this matter. please help me to sort out this issue.

[Padmanathan KV]

When you have complied with all the conditions and there is only delay in filing Form 68 (which is only a technical defect), normally the delay must be condoned if sufficient cause is shown.

Also, where you given an opportunity of being heard before rejecting your application? You may consider filing a writ petition before the High Court.

AI Summary

Delay in Filing Form 68 Under Section 270AA Leads to Rejection and Penalty; Explore Condonation and Appeal Options. A participant in a discussion forum raised a query about a four-month delay in filing Form 68 to avail immunity under section 270AA of the Income Tax Act. Despite meeting all other conditions, their application was rejected, and a penalty was imposed due to the delay. They sought advice on whether the delay could be condoned or if there was any precedent. A respondent suggested that if sufficient cause for the delay is shown, it should typically be condoned. They also recommended checking if an opportunity for a hearing was provided and considering filing a writ petition in the High Court.