If the amount is less than or equal to 10 lakhs

Principal commissioner of Income tax or

Commissioner of Income Tax

If the amount is more than 10 lakhs but restricted to 50 lakhs

Principal commissioner of Income tax or Chief Commissioner of Income Tax

Where amount is greater than 50 lakhs

Central board of taxes.

The time limit for acceptance of claims.

The assess has to file an application on a genuine basis within 6 years from the end of the relevant assessment year.

The authorities also will accept or reject the application within 6 months from the end of the month in which they have received the application.

Moreover, the order of any court while calculating the time limits for giving a refund needs to be excluded.

This period is must not be taken into consideration if an application gets filed within 6 months from the end of the month of the court’s order or the end of the relevant financial year – whichever takes place at the later stage.

Significant points that one needs to take note of.

• The income of any other person must not be taxable in the hands of another person if they take a view of this section.
• No interest on refund of claims gets to be paid.
• The refund claim shall be on a genuine basis that needs to be checked, moreover, there could be other reasons, such as excess TDS, or advance tax. So utmost care while having a check at this refund claim.

Landmark judgment that supports Section 119 of Income-tax act, 1961.

Lodhi Property Company Ltd Vs under Secretary (ITAT)

The assesee had filed a return, which contained  a claim of  carry forward of loss a day after due date and the case was where he could not file the return as the counter was closed, because he was sent to another building due to which there was a delay in reaching at the correct place.

Conclusion: The delay was for 1 day, and it was a genuine reason, if the authority would not have condoned it, could create severe hardships for assesee provided the reason was justified, the condonation shall be allowed under Section 119 of Income Tax Act, 1961.

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If the amount is less than or equal to 10 lakhs

Principal commissioner of Income tax or

Commissioner of Income Tax

If the amount is more than 10 lakhs but restricted to 50 lakhs

Principal commissioner of Income tax or Chief Commissioner of Income Tax

Where amount is greater than 50 lakhs

Central board of taxes.

The time limit for acceptance of claims.

The assess has to file an application on a genuine basis within 6 years from the end of the relevant assessment year.

The authorities also will accept or reject the application within 6 months from the end of the month in which they have received the application.

Moreover, the order of any court while calculating the time limits for giving a refund needs to be excluded.

This period is must not be taken into consideration if an application gets filed within 6 months from the end of the month of the court’s order or the end of the relevant financial year – whichever takes place at the later stage.

Significant points that one needs to take note of.

• The income of any other person must not be taxable in the hands of another person if they take a view of this section.
• No interest on refund of claims gets to be paid.
• The refund claim shall be on a genuine basis that needs to be checked, moreover, there could be other reasons, such as excess TDS, or advance tax. So utmost care while having a check at this refund claim.

Landmark judgment that supports Section 119 of Income-tax act, 1961.

Lodhi Property Company Ltd Vs under Secretary (ITAT)

The assesee had filed a return, which contained  a claim of  carry forward of loss a day after due date and the case was where he could not file the return as the counter was closed, because he was sent to another building due to which there was a delay in reaching at the correct place.

Conclusion: The delay was for 1 day, and it was a genuine reason, if the authority would not have condoned it, could create severe hardships for assesee provided the reason was justified, the condonation shall be allowed under Section 119 of Income Tax Act, 1961.

">

If the amount is less than or equal to 10 lakhs

Principal commissioner of Income tax or

Commissioner of Income Tax

If the amount is more than 10 lakhs but restricted to 50 lakhs

Principal commissioner of Income tax or Chief Commissioner of Income Tax

Where amount is greater than 50 lakhs

Central board of taxes.

The time limit for acceptance of claims.

The assess has to file an application on a genuine basis within 6 years from the end of the relevant assessment year.

The authorities also will accept or reject the application within 6 months from the end of the month in which they have received the application.

Moreover, the order of any court while calculating the time limits for giving a refund needs to be excluded.

This period is must not be taken into consideration if an application gets filed within 6 months from the end of the month of the court’s order or the end of the relevant financial year – whichever takes place at the later stage.

Significant points that one needs to take note of.

• The income of any other person must not be taxable in the hands of another person if they take a view of this section.
• No interest on refund of claims gets to be paid.
• The refund claim shall be on a genuine basis that needs to be checked, moreover, there could be other reasons, such as excess TDS, or advance tax. So utmost care while having a check at this refund claim.

Landmark judgment that supports Section 119 of Income-tax act, 1961.

Lodhi Property Company Ltd Vs under Secretary (ITAT)

The assesee had filed a return, which contained  a claim of  carry forward of loss a day after due date and the case was where he could not file the return as the counter was closed, because he was sent to another building due to which there was a delay in reaching at the correct place.

Conclusion: The delay was for 1 day, and it was a genuine reason, if the authority would not have condoned it, could create severe hardships for assesee provided the reason was justified, the condonation shall be allowed under Section 119 of Income Tax Act, 1961.

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Introduction

As per Section 119 of the Income Tax Act,1961, there are certain lawful relaxations given to the assessee who could not file returns on the prescribed timeline due to which he suffers from interest, or cannot carry forward losses.

Thus while considering the situation on a genuine basis and for the assessee to avoid any hardships, Section 119 came into force.

The Income-tax here empowers CBDT to authorize Income tax officers that allow you certain exemptions even when the return was not filed on the due date and they allow you to carry forward losses, deductions, etc.

The main goal behind giving this is to ease the genuine cases where the situations were out of control by the assessee.

Synopsis of section 119 of Income Tax Act, 1961.

There are certain monetary limits, where the application for availing such relaxations can be accepted or rejected on this basis.

The monetary limit is as follows:

If the amount is less than or equal to 10 lakhs	Principal commissioner of Income tax or Commissioner of Income Tax
If the amount is more than 10 lakhs but restricted to 50 lakhs	Principal commissioner of Income tax or Chief Commissioner of Income Tax
Where amount is greater than 50 lakhs	Central board of taxes.

The time limit for acceptance of claims.

The assess has to file an application on a genuine basis within 6 years from the end of the relevant assessment year.

The authorities also will accept or reject the application within 6 months from the end of the month in which they have received the application.

Moreover, the order of any court while calculating the time limits for giving a refund needs to be excluded.

This period is must not be taken into consideration if an application gets filed within 6 months from the end of the month of the court’s order or the end of the relevant financial year – whichever takes place at the later stage.

Significant points that one needs to take note of.

• The income of any other person must not be taxable in the hands of another person if they take a view of this section.
• No interest on refund of claims gets to be paid.
• The refund claim shall be on a genuine basis that needs to be checked, moreover, there could be other reasons, such as excess TDS, or advance tax. So utmost care while having a check at this refund claim.

Landmark judgment that supports Section 119 of Income-tax act, 1961.

Lodhi Property Company Ltd Vs under Secretary (ITAT)

The assesee had filed a return, which contained  a claim of  carry forward of loss a day after due date and the case was where he could not file the return as the counter was closed, because he was sent to another building due to which there was a delay in reaching at the correct place.

Conclusion: The delay was for 1 day, and it was a genuine reason, if the authority would not have condoned it, could create severe hardships for assesee provided the reason was justified, the condonation shall be allowed under Section 119 of Income Tax Act, 1961.