Central Board of Direct Taxes has extended the due date for filing returns of income to 29.2.2008 - For Certain cases only

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ) dated 14 th May, 2007 for the Assessment Year 2007-08, substituted the old return forms by notifying eight new return forms under a new series ( ITR-1 to ITR-8). The validity of the said notification was challenged in different High Courts of the country. The Hon'ble High Court of Allahabad (Lucknow Bench) had passed an interim order directing the Income-tax authorities to accept the returns f .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he due date for filing returns of income to 29.2.2008. This extension of due date is applicable to assessees, who have,- (i) filed the return of income for the A.Y.2007-08 on or after 14 th May, 2007; and (ii) filed the return in a form other than one of the forms notified for assessment year 2007-08( ITR-1 to ITR-8). Consequently, such assessees would not be liable to any interest or penalt .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ional Solicitor General Mohan Parasaran to a Bench headed by Justice B.N. Agrawal. It is proposed to be issued by Saturday, said Government. The draft order says: "with a view to enable such assessees to file returns in the specified forms prescribed for the assessment year 2007-08, the Central Board of Direct Taxes in exercise of powers conferred under section 119 of the Income-tax Act, 1961, her .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X