Law:

Section:

Section 119 of the Income-tax Act, 1961 - Central Board of Direct Taxes - Instructions to subordinate authorities - Assessment years 2000-01 and 2002-03 - Whether section 119(2) empowers CBDT to admit an application for condonation of delay if it is desirable or expedient to do so for avoiding genuine hardship to an assessee - Held, yes - Assessee, an organization fully owned and aided by Government of Madhya Pradesh, was engaged in business of power - For relevant assessment years, it had filed its loss returns belatedly and sought for condonation of delay, contending that as per provisions contained in M.P. Re-organisation Act, 2000, erstwhile State of Madhya Pradesh and assessee-Board, both were bifurcated and because of that reason, return could not be filed in time - CBDT rejected assessee's application - Whether since in instant case assessee had suffered a loss of about Rs. 1,500 crores, if return filed by assessee was not accepted by department, then loss suffered by it could not be carried forward and it would cause genuine hardship to it in successive assessments - Held, yes - Whether since CBDT, while passing impugned order, had not considered that aspect of matter, its order was to be set aside and assessee was to be allowed an opportunity to file a supplementary application supported by an affidavit before CBDT raising additional grounds for seeking condonation of delay in filing returns - Held, yes FACTS The assessee, an organization fully owned and aided by the Government of Madhya Pradesh, was engaged in business of power. For the relevant assessment years, it filed its returns of income declaring certain loss after a delay of 16 months and filed an application before the CBDT for condonation of the delay, contending that as per the provisions contained in the M.P. Re-organisation Act, 2000, the erstwhile State of Madhya Pradesh and the assessee-Board, both were bifurcated and because of that reason, returns could not be filed in time. The CBDT rejected the assessee's contention and declined to condone the delay. On writ: HELD The Parliament by the Act No. 28 of 2000 enacted the Madhya Pradesh Re-organisation Act, 2000. As per the provisions of…

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