Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Delay in filing returns and audit reports for AYs 2018-19 to 2022-23 was sought to be condoned under s.119(2)(b) on the ground that statutory audit under the applicable cooperative law could not be completed within time due to non-availability of departmental auditors, a cause not attributable to the assessee. The Court held that "genuine hardship" and "sufficient cause" were established, and the authority erred by rejecting the request on a hyper-technical view of inordinate delay despite documentary material showing systemic default and completed audits. As denial would potentially deprive legitimate s.80P deductions (subject to scrutiny), the rejection order was set aside and a mandamus issued to permit filing of returns with audit reports. - HC
Delay in filing returns and audit reports for AYs 2018-19 to 2022-23 was sought to be condoned under s.119(2)(b) on the ground that statutory audit under the applicable cooperative law could not be completed within time due to non-availability of departmental auditors, a cause not attributable to the assessee. The Court held that "genuine hardship" and "sufficient cause" were established, and the authority erred by rejecting the request on a hyper-technical view of inordinate delay despite documentary material showing systemic default and completed audits. As denial would potentially deprive legitimate s.80P deductions (subject to scrutiny), the rejection order was set aside and a mandamus issued to permit filing of returns with audit reports. - HC
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