Belated filing of return
HARIDAS.P.R
(Querist) 19 May 2012
This query is : Resolved
for the assessment year 2005-06 my company filed a return of loss to the extent of 2.80 crores only on 2-11-2006 which should have been on 31-10-2006,because on 31-10-2006 there was a sendoff function and counter of the it office had been closed by 5.00 pm insted of the usual 5.30 pm.And we had no option but to send return by registerd post on 1-11-2006,Assessmsnt officer completed assessmsnt on the basis of the return but refused carry forward of loss to the tune of 2.80.we filed first appeal but appellate commissioner refused our prayer to carry forward loss on the basis of belated return.we filed second appeal before the tribunal which while allowing depriciation th the tune of 44 lacs refused carry forward to the tune of 2.36 crores.Again our prayer befor the high court from tribunal order was dismissed by the high court.noe we have filed SLP befor the supreme court.Noe can we file an application before the central board of direct taxes to condone the delay in filing return and reularise the return so filed in order to enable us to carry forward of loss of 2.36 crores?please advise.
Shonee Kapoor
(Expert) 19 May 2012
When you have taken all remedies and denied everywhere, you want to go back to the basic level and file for condonation of delay.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Suhail A.Siddiqui
(Expert) 20 May 2012
There is case law "Bombay Mercantile COOP Bank" where in belated return is accepted, after completing the course of law at highest level, In my view nothing has left. You may file before Board, any thing can happened in this mortal world.
C. P. CHUGH
(Expert) 20 May 2012
Dear Haridas, The facts stated by you does not appears to be correct for a) Due date of filling of return for AY 2005-2006 in the case of a company was 31-10-2005 and not 31-10-2006 as stated by you. In case you are referring to AY 2006-2007, then you were required to efile your return and last date was extended upto 30/11/2006.
When stakes were so high, why due dilligence was not excercised at the first level itself. Now you are at the mercy of CBDT who may and may not grant you the relief. The return submitted by you is late by almost a year and by one/two days as is made out in your querry. Delay of a year by no means can be justified.
