2026 (2) TMI 572

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....alore, rejecting the application filed under Section 119(2)(b) of the Income Tax Act, 1961 seeking condonation of delay for filing revised returns. 2. The order at Annexure-P impugned in the present writ petition would observe that in light of the CBDT Circular No. 11/2024 dated 01.10.2024, there is no provision to entertain an application beyond 5 years from the end of the relevant assessment year. 3. It is the case of the petitioner that the petitioner had filed an original return of income for the assessment year 2018-19 disclosing advance tax and self-assessment tax paid. It is submitted that subsequently petitioner had received intimation under Section 143(1)(a) for the assessment year 2018-2019 raising a demand. It is at that po....

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.... Expenditure incurred on agriculture II 0   III Unabsorbed agricultural loss of previous eight assessment years III 0   IV Net Agricultural Income for the year (I-II-III) (enter nil if loss) 4 0 5 Others, including exempt Income of minor child (please specify)   S.No Nature of Income Amount   Total 0 6 Total (1+2+3+4+5) 6 36487775 Schedule PTI:Pass Through Income details from business trust or Investment fund as per section 115UA, 115UB   RECTIFIED RETURNS FILED ON 10.09.2020 Acknowledgement number:537765310100920 Assessment Year:2018-19 2 Embassy Buildcon LLp AAGFE0427K No No 0 260404 0 3 Saltir....

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....titioner that the declaration of dividend income from domestic company at Sl. No.2 of Schedule-E1 was wrongly mentioned as Rs. 3,64,87,775 instead of Rs. 9,40,187/-. It is further submitted that a perusal of the original returns and the rectified returns would indicate the nature of mistake. 6. Learned counsel for the petitioner submits that initially petitioner had filed an application seeking for rectification of the returns, copy of which is enclosed at Annexure-F. It is submitted that subsequently in terms of Annexure-G, application for rectification came to be rejected on the ground that the present application would be limited to correction of mistakes apparent from records under Section 154 and the mistake made out would not fall ....

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.... appropriate orders. 11. Sri. Dilip M, learned counsel for the revenue would submit that the order impugned is an order passed strictly in accordance with law. The authority is bound by the CBTT circular issued under Section 119(2)(b) of the Income Tax Act and no fault can be attributable to the authority concerned. 12. Having noticed the table extracted at para-4 above, prima facie it could be seen that there appears to be mistake in the declaration as regards exempt income with respect to Schedule-EI. Learned counsel for the revenue is unable to controvert as regards the contention on merits raised by the petitioner regarding the wrong declaration. The issue is only one as to whether petitioner is to be permitted to file a revised r....