Direct Taxation

CBDT empowers Chief Commissioners and Directors General of income tax to condone delay in ITR-filing by Co-Operative Societies

26.07.2023

In order to mitigate genuine hardship, Central Board of Direct Taxes directs that the Chief Commissionersof Income tax (CCIT) / Directors General of incometax (DGIT) are authorised to deal withapplications of condonation of delay pending before the Board. The Board further directs that the CCIT/DGIT, henceforth, shall admit allpending as well as new applications for condonation of delay in furnishing returns of incomeclaiming deduction under Section 80P of the Income Tax Act, 1961 (IT Act).Section 80P of the IT Act provides fordeduction in respect of income of co-operative societies.

The CClT/DGIT while deciding such applications forcondonation of delay in furnishing return of income, shall satisfy themselves that the applicant'scase is a fit case for condonation under the existing provisions of the Act. The CClT/DGIT shall examine that the delay in furnishing the return of income within the due date was caused due to circumstances beyond the control of the assessee. It will be applicable for various assessment years from AY 2018-2019 to AY 2022-2023.

The CClT/DGlT shall preferably dispose the application within three months from theend of the month in which such application is received from the applicant or transferred by theBoard. No order rejecting the application under Section 119(2)(b) of the IT Act shall be passed without providing the applicant an opportunity of being heard.

Tags : Delay Condonation Authority

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