https://www.taxtmi.com/caselaws?id=448682 The HC allowed petitioner's application for condonation of delay in filing income tax returns seeking refund. Petitioner explained delay until 16.08.2016 was due to pending AAR applications, asserting bona fide belief that filing returns would jeopardize advance ruling rights under Section 245R(2) proviso. Court found this assertion credible and constituted genuine hardship under Section 119(2)(b). Despite additional delay until 04.03.2017, court accepted petitioner's explanation based on previous AAR rulings indicating non-taxability in India. The impugned orders were quashed and delay condoned upon payment of Rs. 50,000 costs, without expressing opinion on refund merits. en-us Mon, 22 Jan 2024 00:00:00 +0530 Mon, 10 Jun 2024 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448682 The HC allowed petitioner's application for condonation of delay in filing income tax returns seeking refund. Petitioner explained delay until 16.08.2016 was due to pending AAR applications, asserting bona fide belief that filing returns would jeopardize advance ruling rights under Section 245R(2) proviso. Court found this assertion credible and constituted genuine hardship under Section 119(2)(b). Despite additional delay until 04.03.2017, court accepted petitioner's explanation based on previous AAR rulings indicating non-taxability in India. The impugned orders were quashed and delay condoned upon payment of Rs. 50,000 costs, without expressing opinion on refund merits. Case-Laws Income Tax Mon, 22 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448682