section 119(2)b - AnpTaxCorp

CBDT Circular 14/2024: Condonation of Delay for Filing Returns Claiming Deduction under Section 80P for AY 2023-24

2 November 2024 by Adv Aditya Narayan

Circular 14/2024 addressing the condonation of delays in filing income tax returns by cooperative societies claiming deductions under Section 80P of the Income Tax Act for the Financial Year 2022-23. The Central Board of Direct Taxes (CBDT) has issued Circular …

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Delhi High Court Mandates Proper Reasoning in Rejection of Condonation Application u/s. 119(2)(b) of Income Tax

29 October 202429 October 2024 by Adv Aditya Narayan

The court emphasized that Section 119(2)(b) is a beneficial provision, intended to allow for exceptions and refunds in cases of genuine hardship. Decisions made under this provision must include proper justification, aligning with both procedural fairness and the legislative intent …

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