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TMI Blog2022 (3) TMI 531X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment can also be framed accordingly and the liability can be determined. We dispose of this writ application reserving the liberty for the writ applicant to file an appropriate application addressed to the Chief Commissioner Income Tax under Section 119(2) (b) of the Act referred to above with a request to permit him to file the Form 10 IC electronically. If any such application is filed then the Chief Commissioner shall look into it expeditiously and may exercise his discretion in accordance with law more particularly keeping in mind the object behind Section 119(2)(b) of the Act. The Chief Commissioner/Commissioner shall also consider the hardships that the writ-applicant may have to face in the event if he is not permitted to fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... compass. It appears that the writ-applicant filed his return of income for the A.Y. 2020-2021 invoking the provisions of Section 115BAA of the Income Tax Act, 1961 (for short the Act 1961) but in the absence of the Form 10-IC which the writ-applicant was obliged to file electronically. In the absence of the Form 10-IC, the return was assessed in a regular form and a intimation under Section 143(1) of the Act came to be served upon the writ applicant raising a demand of ₹ 1,05,18,030/-. In such circumstances, referred to above the writ applicant is here before this Court with the present writ-application. 3. Mr. Ashutosh Dave, the learned counsel appearing for the writ-applicant submitted that his client i.e. the writ-applicant fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ub-section (2AB) of section 35 or section 35AD or section 35CCC or section 35CCD or under any provisions of78 [Chapter VI-A under the heading C.--Deductions in respect of certain incomes other than the provisions of section 80JJAA]; (ii) without set off of any loss carried forward or depreciation from any earlier assessment year, if such loss or depreciation is attributable to any of the deductions referred to in clause (i); (iii) without set off of any loss or allowance for unabsorbed depreciation deemed so under section 72A, if such loss or depreciation is attributable to any of the deductions referred to in clause (i); and (iv) by claiming the depreciation, if any, under any provision of section 32, except clause (iia) o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... option is exercised by the person in the prescribed manner on or before the due date specified under subsection (1) of section 139 for furnishing the returns of income for any previous year relevant to the assessment year commencing on or after the 1st day of April, 2020 and such option once exercised shall apply to subsequent assessment years: Provided that in case of a person, where the option exercised by it under section 115BAB has been rendered invalid due to violation of conditions contained in sub-clause (ii) or sub-clause (iii) of clause (a), or clause (b) of sub-section (2) of said section, such person may exercise option under this section: Provided further that once the option has been exercised for any previous year, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 119(2) (b) to the Principal Chief Commissioner/the Chief Commissioner. Mr. Bhatt would submit that if the Chief Commissioner is convinced that having regard to the circumstances in which the Form 10 IC could not be filed at the relevant point of time then it is within his power to permit or admit an application or claim for any exemption, deduction, refund or any other relief under the Act, even after the expiry of the period specified by or under the Act. 8. Mr. Bhatt also laid much emphasis on Sub Section 5 of Section 115BAA of the Act which reads thus 5) Nothing contained in this section shall apply unless the option is exercised by the person in the prescribed manner on or before the due date specified under sub-section (1) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the proper administration of this Act, and such authorities and all other persons employed in the execution of this Act shall observe and follow such orders, instructions and directions of the Board. Sub section (2)(b) of Section 119 reads thus: (2) Without prejudice to the generality of the foregoing power _ (a) xxxxx (b) the Board may, if it considers it desirable or expedient so to do for avoiding genuine hardship in any case or class of cases, by general or special order, authorise [ any income-tax authority, not being a Commissioner (Appeals)] to admit an application or claim for any exemption, deduction, refund or any other relief under this Act after the expiry of the period specified by or under this Act for ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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