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TMI Blog2023 (2) TMI 973X X X X Extracts X X X X X X X X Extracts X X X X ..... c films. The due date for filing return of income under Section 139(1) of the Income Tax Act, 1961 ('the Act' for short) for Assessment Year 2018-19 was 31.10.2018. The petitioner company submitted manual return of income for AY 2018-19 on 02.01.2023 as the petitioner could file return electronically owing to it being beyond the time limit prescribed under Section 139 of the Act. 2. The due date for filing return on income under Section 139(1) for AY 2019-20 was 31.10.2019. The same was filed on 30.11.2020 under Section 139(4) of the Act. 3. One Rassendra Chem Export Private Limited in the capacity of operational creditor preferred an application under Section 9 of the IBC for initiation of Corporation Insolvency Resolution Process ('CIRP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 04.09.2020. 8. Pursuant to the said approval, the erstwhile management was replaced by a new Board constituted with adequate representation from the members of the Resolution Applicant viz., Kankriya Enterprises Pvt. Ltd., and independent Directors in compliance with applicant law as per Clause 4.7.1 of the Resolution Plan. 9. The new management filed the return of income on 15.03.2022 for AY 2021-22 and has set off the brought forward business losses. The same was processed under Section 143(1) on 22.09.2022. The demand was raised after disallowing the brought forward losses as the same was not filed within the time stipulated under Section 139(1) of the Act. 10. For AY 2021-22, the same was taken up for scrutiny and so called draft as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l, the genuine business loss is not allowed to be carried forward for all times to come and if the delay is not condoned, the petitioner company would suffer, although there is a genuine hardship on account of the inaction on the part of the erstwhile management. Prayers sought for are as follows : "30(a) Issue a writ, order or direction in the nature of mandamus to the respondent No.1 - CBDT to decide the applications filed under Section 119(2)(b) of the Act for AY 2018-19 and AY 2019-20 (Annexure-A and Annexure-B] within such time as deemed fit by this Hon'ble Court. (b) Issue a writ, order or direction in the nature of mandamus to the respondent No.1 - CBDT to accept the return of income for AY 2018-19 filed manually and decide the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed manually and decide the application under Section 119(2)(b) of the Act on its merits. (c) Pass any such other writ or order(s) as it may deem fit and proper in the interest of justice." We have heard Mr. Manish Bhatt, learned Sr.Advocate assisted by Ms. Shailee S.Joshi, learned advocate for the petitioners has urged that the application though has been made in the month of January, inexplicable hardship, is being caused if the issue is not addressed well in time. He has also further submitted that what is sought is urgent addressal of the application and the petitioner is ready to approach the Board even while, this Court is considering the request for grant of prayers. Issue Notice to the respondents making it returnable on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Board may, from time to time, issue such orders, instructions and directions to other income- tax authorities as it may deem fit for 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: Provided that no such orders, instructions or directions shall be issued- (a) so as to require any income- tax authority to make a particular assessment or to dispose of a particular case in a particular manner; or (b) so as to interfere with the discretion of the Deputy Commissioner (Appeals)] or the Commissioner (Appeals)] in the exercise of his appellate functions." Further, Section 119(2)(b) of the I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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