2019 (4) TMI 107

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....d filed return of income for the said assessment year 2008-09 on 18.12.2008. The last date for filing the return under Section 139(1) of the Income Tax Act, 1961 ("the Act" for short) was 31.10.2008. In such return, the petitioner had claimed a carry forward of losses to the tune of Rs. 24.65 Lakhs (rounded off). The Assessing Officer passed an order of assessment under Section 143(3) of the Act on 29.12.2011 rejecting the claim of carry forward of losses on the ground that the return was not filed within time. The assessee carried the matter in appeal. The CIT(A) allowed the appeal by order dated 10.5.2012. This order was challenged by the Revenue before the Income Tax Appellate Tribunal ("the Tribunal" for short). The Tribunal passed an o....

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....lication of the petitioner. The petitioner being a Cooperative Bank, had to get the accounts audited by an auditor that may be appointed by the State Government. In the present case, the auditor was appointed only in July 2010 after which the petitioner made full efforts to have audit completed within time. The auditor submitted the report only on 5.12.2008. upon which the return was filed on 18.12.2008. The CBDT without looking such grounds rejected the petitioner's contention of sufficient cause having been shown. He further submitted that the first application for condonation of delay was filed on 6.10.2014 which was ignored by the CBDT. Learned counsel relied on following decisions:- i. Pala Marketing Co-op. Society Ltd Vs. Union of ....