CBDT has vide circular no. 16/2022 and 17/2022 Dt. 19.07.2022 allowed assessee to file condonation application in relation to Form 10B and Form 9A & 10 respectively for AY 2018-19 and onwards.
In the circular CBDT has authorized Commissioner of Income Tax to allow condonation on merits if the condonation in relation to above Forms are within 365 days for any relevant assessment year.
If there is a delay between 365 days to 3 year then CBDT has authorized Pr. Chief Commissioners of Income-tax/ Chief Commissioners of Income-tax.
Pr. Chief Commissioner/ Chief Commissioner of Income-tax, as the case may be, shall preferably dispose the application within three months of receipt of the application.
Circular 16/2022:
1. In exercise of the powers conferred under section 119(2) of the Income-tax Act, 1961 (hereinafter referred to as ‘Act’), the Central Board of Direct Taxes (CBDT) by Circular NO. 2/2020 [F.No. 197/55 /20 18-ITA-1] dated 03.01.2020 authorized the Commissioners of Income-tax to admit applications of condonation of delay in filing Form No. 10B for A Y 2018-19 or for any subsequent Assessment Years where there is delay of upto 365 days and decide on merits.
2. Further to the powers delegated to Commissioners of Income-tax as discussed above, the CBDT hereby directs that where there is delay of beyond 365 days upto three years in filing Form No. 108 for Assessment Year 2018- 19 or for any subsequent Assessment Years, the Pr. Chief Commissioners of Income-tax/ Chief Commissioners of Income-tax are authorized to admit such applications of condonation of delay under section 119(2) of the Act and decide on merits.
3. The Pr. Chief Commissioner/ Chief Commissioner or Commissioners of Income-tax, as the case may be, while entertaining such applications for condonation of delay in filing Form No. 10B, shall satisfy themselves that the applicant was prevented by reasonable cause from filing such Form within the stipulated time.
4. Further, the Pr. Chief Commissioner/ Chief Commissioner of Income-tax, as the case may be, shall preferably dispose the application within three months of receipt of the application.
Circular 17/2022:
1. In exercise of the powers conferred under section 11 9(2) of the Income-tax Act, 1961 (hereinafter referred to as ‘Act’), the Central Board of Direct Taxes (CBDT) by Circular No . 3/2020 [F.No. 197/55/2018-ITA-1] dated 03.01.2020 authorized the Commissioners of Income-tax to admit applications of condonation of delay in filing Form No. 9A and Form No. 10 for A Y 2018-19 or for any subsequent Assessment Years where there is delay of up to 365 days and decide on merits.
2. Further to the powers delegated to Commissioners of Income-tax as discussed above, the CBDT hereby directs that where there is delay of beyond 365 days upto three years in filing Form No. 9A and Form No. 10 for Assessment Year 2018-19 or for any subsequent Assessment Years, the Pro Chief Commissioners of Income-tax/ Chief Commissioners of Income-tax are authorized to admit such applications of condonation of delay under section 119(2) of the Act and decide on merits.
3. The Pr. Chief Commissioner/ Chief Commissioner of Income-tax, as the case may be, while entertaining such applications for condonation of delay in filing form No. 9A and Form No. 10, shall satisfy themselves that the applicant was prevented by reasonable cause from filing such Form within the stipulated time. In respect of Form No. 10, the Pr. Chief Commissioner/ Chief Commissioner of Income-tax, as the case may be, shall also satisfy themselves that the amount accumulated or set apart has been invested or deposited in anyone or more of the forms or modes specified in sub-section (5) of section 11 of the Act.
4. Further, the Pr. Chief Commissioner/ Chief Commissioner of Income-tax, as the case may be, shall preferably dispose the application within three months of receipt of the application.
To read circular 16/2022 Dt. 19.07.2022 CLICK ME.
To read circular 17/2022 CLICK ME.
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