2024 (6) TMI 1231

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....ncome Tax<br>HON&#39;BLE DR. JUSTICE PUSHPENDRA SINGH BHATI AND HON&#39;BLE MR. JUSTICE MUNNURI LAXMAN For Petitioner(s) : Mr. Vinay Kothari Mr. Ayush Goyal For Respondent(s) : Mr. K.K. Bissa ORDER PER 1. The petitioner in this writ petition emerges the facts that the petitioner is the proprietor of the firm, who is engaged in trading of herbs and certain plants required for Ayurved. T....

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.... Learned counsel for the petitioner also pointed out that the reason for the delay includes the crashing of the computer at the time of preparation of the accounts and then the same was required to be recomputed. He further submits that the respondents had ample power particularly under Section 119 (2) (b) of the Act of 1961 and thus such a small delay in a peculiar matter ought to have been condo....

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....OF CARRY FORWARD LOSSES UNDER SECTION 119(2)(b) CIRCULAR 9/2015 [F.NO.312/22/2015-OT], DATED 9-6-2015 ...... 5. The powers of acceptance/rejection of the application within the monetary limits delegated to the Pr.CCsIT/CCsIT/Pr.CsIT/CsIT in case of such claims will be subject to Following conditions: i. At the time of considering the case under Section 119 (2) (b), it sh....