Income Tax return can be filed by 29.02.2008 - superfast CBDT - It is not for the Court to decide what form the return is to be filed in
Though the CBDT had prescribed new forms in place of the Saral forms, some High Courts had directed the Income Tax Department to accept the old returns. The Supreme Court on 14.12.2007 set aside these orders and the Board in lightening speed which should be a record for a government department, issued instructions allowing those who had filed their returns in the old format to file them in the new forms by 29.02.2008. This extension is applicable to assessees who have
1. filed the return of income for the A.Y.2007 -08 on or after 14 th May, 2007; and
2. filed the return in a form other than one of the forms notified for assessment year 2007-08( ITR -1 to ITR -8).
And these assessees would not be liable to any interest or penalty if they re-file their returns in the forms prescribed for the assessment year 2007-08, on or before 29.02.2008.
The Supreme Court observed,
Whether the Return should be filed in a particular Form is not the business of the Court.
It is for the statutory Authority to decide the same. Be that as it may, as the original time for filing the Return has already expired, the learned Additional Solicitor General, appearing behalf of the Union of India, stated that the time for filing the Return in the prescribed Form is being extended to 29th February, 2008, in relation to all categories of assessees. This being the position, the impugned order is set aside. All the assessees, who have already filed Return in Form Saral 2-D, pursuant to the impugned order passed by the Allahabad High Court or any other High Court in the Country, are required to file Return in the prescribed Form by 29th February, 2008, to which date time is going to be extended.
See our breaking News on 14 th and also see the Supreme Court order.