https://www.taxtmi.com/highlights?id=77798 The Telangana High Court considered the rejection of an application u/s 119(2)(b) due to delay in submitting Form 10B along with the Auditor's report by a petitioner with exemption u/s 12A. The petitioner had a history of compliance and faced delays for the Assessment Years 2018-19 and 2020-21. The CBDT authorized Commissioners of Income Tax to entertain such applications for condonation of delay up to 365 days in a liberal manner with a reasonable explanation. The court found the impugned order lacking discussion on the explanation provided by the petitioner, emphasizing the need for authorities to consider and give a specific finding on the explanation's sufficiency. Consequently, the court set aside the order, condoned the delay, and remitted the matter for the 1st respondent to pass appropriate orders on merits. en-us Sat, 25 May 2024 08:08:53 +0530 Sat, 25 May 2024 08:08:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77798 The Telangana High Court considered the rejection of an application u/s 119(2)(b) due to delay in submitting Form 10B along with the Auditor's report by a petitioner with exemption u/s 12A. The petitioner had a history of compliance and faced delays for the Assessment Years 2018-19 and 2020-21. The CBDT authorized Commissioners of Income Tax to entertain such applications for condonation of delay up to 365 days in a liberal manner with a reasonable explanation. The court found the impugned order lacking discussion on the explanation provided by the petitioner, emphasizing the need for authorities to consider and give a specific finding on the explanation's sufficiency. Consequently, the court set aside the order, condoned the delay, and remitted the matter for the 1st respondent to pass appropriate orders on merits. Highlights Income Tax Sat, 25 May 2024 08:08:53 +0530 https://www.taxtmi.com/highlights?id=77798