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TMI Blog2024 (12) TMI 647X X X X Extracts X X X X X X X X Extracts X X X X ..... iate authority upon due consideration of the relevant facts and circumstances, then any subordinate authority under the authority prescribed before whom such an application is filed is required to redirect the assessee to the authority prescribed under the Act who has been bestowed with the power of condonation of any delay upon due consideration of the facts and the materials. The authority which rejected the application filed by the petitioner was required to refer the matter to the CBDT as the power for consideration of condonation of delay was bestowed only on the CBDT under the statute and not on any other authority. n the facts and circumstances of the case, this Court is persuaded to accept the view rendered by the Telengana High Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uctural works and is an assessee of Income Tax under the Income Tax Act, 1961 and holding PAN AALCA5858Q for the purposes. The petitioner filed Income Tax Return for the assessment year 2020-21 on 31.03.2022 along with it had also filed Form No. 10-IC for exercise of option under Sub-section (5) of Section 115BAA of the Act. Section 115 BAA was introduced on September, 2019 to give additional benefits of the optional reduced corporate tax to certain categories of domestic companies permitting them to retain more profits in view of the competitive business environment. Under Section 115BAA, domestic companies have the option to pay tax at a rate of 22% plus applicable surcharges instead of 30% plus surcharges. This provision is optional, how ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elay under Section 119 (2) (b) of the Income Tax Act, 1961 by filing Form No. 10-IC for Assessment Year 2021-22 by extending the deadline of file Form 10-IC till 31.01.2024. The petitioner however inspite of his best efforts could not avail the advantage of the extended due date of 15.03.2022 and filed its returns within that extended period of time. The said returns were thereafter filed on 31.03.2022 together with all taxes, interest and other charges are applicable. This delay occurred because of COVID-19 pandemic situation, the petitioner was quarantine at his Noida residence for Covid related infections which caused general hardship to the petitioner. 6. It is the case of the petitioner before this Court that this delay caused due to w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Section 119 (2) (b) has to be construed liberally and refusal to condone the delay resulting in a matter where the merits require consideration but was not consider on the point limitation and thereby defeating the cause of justice at the very threshold. 8. The learned Standing counsel for the Income Tax Department submits that the power to condone the delay under Section 119 is in respect of the scheme is only reserved for the Central Board of Direct Taxes. The CBDT by its circular dated 23.10.2023 had issued a circular in respect of the cases where such delay in filing of Form 10-IC could be considered in cases where the return of income has been filed on or before the due date specified under Section 139(1) of the Act. He therefore s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... High Court have been carefully perused. The facts in the present proceedings are similar. The provisions of Section 119 have also been carefully noted. 14. What transpires is that it is the CBDT which is vested with the power of condonation of delay in the event the Board considers it necessary to pass such an order on the attending facts and circumstances of the case, where the authority prescribed by the statute is given the discretion to consider the difficulties faced by any assessee and thereupon pass an order, it will be improper for the subordinate authorities to reject the same on the ground that no power is prescribed on the said authorities. Where statute provides for the provisions for condonation of delay by an appropriate auth ..... X X X X Extracts X X X X X X X X Extracts X X X X
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