Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
The High Court rejected the application for condonation of delay u/s 119 (2) (b) in filing income tax returns u/s 139 (1) or 139 (4) for AY 2022-23. The petitioner's senior accountant's illness and subsequent resignation caused delay in finalizing accounts. The Board alleged willful negligence, but lacked evidence. The Court found the delay due to unforeseen events, condoned it u/s 119 (2) (b), and allowed filing within 15 days. The order was set aside due to genuine hardship, emphasizing a justice-oriented approach.
The High Court rejected the application for condonation of delay u/s 119 (2) (b) in filing income tax returns u/s 139 (1) or 139 (4) for AY 2022-23. The petitioner's senior accountant's illness and subsequent resignation caused delay in finalizing accounts. The Board alleged willful negligence, but lacked evidence. The Court found the delay due to unforeseen events, condoned it u/s 119 (2) (b), and allowed filing within 15 days. The order was set aside due to genuine hardship, emphasizing a justice-oriented approach.
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