2025 (10) TMI 310

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....ates. For the Respondents: Mr. Akhileshwar Sharma, Advocate. P.C. 1. At the outset, the learned Advocate appearing on behalf of the Petitioner states that though the subject matter of the above petition is in relation to A.Y. 2022-23, inadvertently, the return filed at Exhibit-C2 is for A.Y. 2023-24, and it is therefore solely to substitute Exhibit-C2 with the correct return, namely, for ....

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....t there was a delay of 44 days in filing the Return of Income for the A.Y. 2022-23. The delay has been explained in detail paragraphs 3 and 4 of the Application filed by the Assessee company under Section 119 (2) (b) of the IT Act. The Application filed under Section 119 (2) (b) is on record at Exhibit-C3 to the Petition. He further submitted that in the facts of the case, the delay is adequately ....

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....ed on 21.12.2022 and revised return was filed on 29.12.2022, declaring a loss of Rs. 1,62,54,101/-. The delay in finalization of books of accounts and preparation of financial statements, in anticipation of the merger process filed u/s 233 of the Companies Act, 2013, before the Regional Director, Registrar of Companies cannot be deemed as sufficient cause to condone the delay. 6. We have heard ....