Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
HC allowed petitioner's application u/s 119(2)(b) for condonation of delay in filing revised ITR. The court found that the ITR was initially rejected due to an incorrect box being ticked regarding cash transactions, which did not impact actual income assessment. The petitioner demonstrated genuine hardship and claimed cash receipts were NIL, with cash payments not exceeding five percent of total payments. The court set aside the order rejecting the ITR and permitted the petitioner to file a revised return, recognizing the technical nature of the initial filing error.
HC allowed petitioner's application u/s 119(2)(b) for condonation of delay in filing revised ITR. The court found that the ITR was initially rejected due to an incorrect box being ticked regarding cash transactions, which did not impact actual income assessment. The petitioner demonstrated genuine hardship and claimed cash receipts were NIL, with cash payments not exceeding five percent of total payments. The court set aside the order rejecting the ITR and permitted the petitioner to file a revised return, recognizing the technical nature of the initial filing error.
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