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Condonation of delay in filing refund claim and claim of carry forward of losses - Power delegated to PCCIT, PCIT, CCIT, CIT based on monetary limits for acceptance or rejection of application - Directions issued u/s 119(2)(b) of the Income-tax Act, 1961
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....NTRAL BOARD OF DIRECT TAXES NEW DELHI, Dated: May 31, 2023 Subject: Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the Income-tax Act, 1961. Circular No. 09 of 2015 (the Circular) dated 09-06-2015 in F. No. 312/22/2015-OT by Central Board of Direct Taxes (the Board) was issued in supersession of all earlier Instructions/Circular....
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.... of such applications/claims if the amount of such claims exceeds Rs.50 lakhs but is not more than Rs.2 crores for any one assessment year. (iii) The Principal Chief Commissioners of Income-tax (Pr. CCsIT) shall be vested with the powers of acceptance/rejection of such applications/claims if the amount of such claims exceeds Rs.2 crores but is not more than Rs.3 crores for any one assessment yea....