https://www.taxtmi.com/caselaws?id=15305 Section 119(2)(b) relief for belated returns was examined year-wise in the context of carry forward of business loss and unabsorbed depreciation for a sick industrial company. Delay could not be condoned where the assessee had filed returns beyond section 139(1) and had not secured any relevant tax-treatment provision in the rehabilitation scheme; the refusal was upheld for the assessment years 1988-89 and 1991-92. For 1989-90, the delay was only three days, and the matter had to be reconsidered because undue hardship and the assessee's sick-industry status had not been properly weighed. The governing principle is that condonation cannot be refused by a blanket approach and must consider all material circumstances. en-us Fri, 30 Oct 1998 00:00:00 +0530 Tue, 04 Aug 2009 16:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15305 Section 119(2)(b) relief for belated returns was examined year-wise in the context of carry forward of business loss and unabsorbed depreciation for a sick industrial company. Delay could not be condoned where the assessee had filed returns beyond section 139(1) and had not secured any relevant tax-treatment provision in the rehabilitation scheme; the refusal was upheld for the assessment years 1988-89 and 1991-92. For 1989-90, the delay was only three days, and the matter had to be reconsidered because undue hardship and the assessee's sick-industry status had not been properly weighed. The governing principle is that condonation cannot be refused by a blanket approach and must consider all material circumstances. Case-Laws Income Tax Fri, 30 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15305