VittSphere ONE Calculators Blog CA Prabhakar Kumar · FCA · ICAI 560762
Case lawHigh Court › Mirae Asset Venture Investments India Pvt Ltd v PCIT-6
High CourtHelps taxpayerValidity unconfirmeds.115BAAs.115BAA(5)s.119(2)(b)s.139(1)s.143(1)

Mirae Asset Venture Investments India Pvt Ltd v PCIT-6

I filed my return in time and ticked s.115BAA in the ITR-6, but Form 10-IC went in late and the CPC has already processed the return and raised a demand. Can the delay still be condoned?

I filed my return in time and ticked s.115BAA in the ITR-6, but Form 10-IC went in late and the CPC has already processed the return and raised a demand. Can the delay still be condoned?

Yes, for AY 2021-22, if the three conditions in CBDT Circular No. 19/2023 dated 23 October 2023 are met. The Bombay High Court held that the Circular imposes no fourth condition — neither the fact that the return was already processed under s.143(1) and a demand raised, nor the fact that the shortfall was detected by the Assessing Officer rather than volunteered, takes the case outside it.

Decided by the High Court (B. P. Colabawalla J and Firdosh P. Pooniwalla J) on 2025-07-07, reported as Writ Petition No. 758 of 2025 (Bombay High Court). It bears on section 115BAA, section 115BAA(5), section 119(2)(b), section 139(1), section 143(1) of the Income Tax Act 1961, in Assessment & Scrutiny and How Tax Law Is Read matters.

Validity check could not be completed. Validity check could not be completed. No search for later treatment of this order was run. Note that the CBDT superseded Circular No. 19/2023 by Circular No. 17/2024, which extends condonation to AY 2020-21 to 2022-23 but bars any application made more than three years from the end of the assessment year; the Delhi High Court applied that bar in Mentaura Technologies Pvt Ltd v PCIT (29 April 2026). This decision was on an application already made and pending, so the three-year bar did not arise on its facts.

Why it matters

This is the answer to the commonest Revenue objection to a Form 10-IC condonation application: 'you only applied after we caught you.' The Court's reasoning is that the CBDT wrote three conditions and the Commissioner may not add a fourth. It also matters that the Court set aside the order because the Commissioner had not even referred to the Circular — an order under s.119(2)(b) that ignores a Board circular directly in point is vulnerable on that ground alone. The limits are real: the first condition is that the return itself was filed within the s.139(1) due date, so a taxpayer whose return was belated gets no help from this Circular at all, and the outer three-year bar later imposed by Circular No. 17/2024 is a separate obstacle (see Mentaura Technologies).

Binding within that High Court's jurisdiction. Persuasive elsewhere.

Not yet CA-verified. This entry was found through the sources listed under the Sources tab, and the summary reflects what those sources say. Nobody has yet read the full judgment and signed it off. Check the source before relying on it.

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