Court Condones Delay in Filing Form 10B for Tax-Exempt Petitioner, Orders Reconsideration for Assessment Years 2018-21.

The Telangana High Court considered the rejection of an application u/s 119(2)(b) due to delay in submitting Form 10B along with the Auditor's report by a petitioner with exemption u/s 12A. The petitioner had a history of compliance and faced delays for the Assessment Years 2018-19 and 2020-21. The CBDT authorized Commissioners of Income Tax to entertain such applications for condonation of delay up to 365 days in a liberal manner with a reasonable explanation. The court found the impugned order lacking discussion on the explanation provided by the petitioner, emphasizing the need for authorities to consider and give a specific finding on the explanation's sufficiency. Consequently, the court set aside the order, condoned the delay, and remitted the matter for the 1st respondent to pass appropriate orders on merits. .....

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