Court Allows Late Tax Return Filing Due to Promoter-Investor Deadlock, Cites "Genuine Hardship" Interpretation.

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....Condonation of delay in filing return - reasonable cause of delay - genuine hardship - disagreement of the promoters and investors creating deadlock in the adoption of audited accounts of the petitioner - the expression ‘genuine hardship’ should receive liberal consideration, the instant case was a fit case for condonation of delay.....