Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
The High Court held that the authority erred in rejecting the petitioner's application for condonation of one day's delay in filing the return of income u/s 119(2)(b) of the Act. The reasoning that the return had already been processed u/s 143(1) with a demand raised was flawed and showed non-application of mind. The delay of one day was bona fide due to technical issues and should have been condoned following the principles laid down in the case of Jyotsna Mehta. The Court opined that the paramount jurisprudential principles mandate condonation of such a short delay caused by genuine reasons.
The High Court held that the authority erred in rejecting the petitioner's application for condonation of one day's delay in filing the return of income u/s 119(2)(b) of the Act. The reasoning that the return had already been processed u/s 143(1) with a demand raised was flawed and showed non-application of mind. The delay of one day was bona fide due to technical issues and should have been condoned following the principles laid down in the case of Jyotsna Mehta. The Court opined that the paramount jurisprudential principles mandate condonation of such a short delay caused by genuine reasons.
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