Relief to co-operative societies whose deduction u/s 80P was denied for non filing of return within due date (Section 80AC) -- CBDT directs the CCsIT/DGsIT to admit all pending as well as new applications for condonation of delay in furnishing returns of income claiming deduction u/s 80P of the Act, filed either in the Board or in field formation for the assessment years 2018·19 to 2022·23 and decide such applications on merits within 3 months.

 

"6. In the context of para·5 above, the CCslT/DGsIT while deciding such applications for condonation of delay in furnishing return of income, shall satisfy themselves that the applicant's case is a fit case for condonation under the existing provisions of the Act. The CCslT/DGsIT shall examine the following while deciding such applications - 

(i) the delay in furnishing the return of income within the due date under sub·section (I) of section 139 of the Act was caused due to circumstances beyond the control of the assessee with appropriate documentary evidence/s; 

(ii) where delay in furnishing return of income was caused due to delay in getting the accounts audited by statutory auditors appointed under the respective State Law under which such person is required to get his accounts audited, the date of completion of audit the case, which comes into the light in the course of verification and having bearing eitHer in the relevant assessment year or establishing connection of relevant assessment year with other assessment year/so 

6.1 The cases falling under para 6(iii) above, would require further necessary action as per law. " .'  vis·a·vis the due date of furnishing the return of income under sub·section (I) of section 139 of the Act; and 

(iii) any other issue indicating towards tax avoidance or tax evasion specific to

7. The CCslT/DGslT shall preferably dispose the application within three months from the end of the month in which such application is received from the applicant or transferred by the Board. No order rejecting the application under section 119(2)(b) of the Act shall be passed without providing the applicant an opportunity of being heard."

Circular No. 13/2023 dated 26.07.2023

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