Condonation of Delay Under Companies Act, 2013
Section 460(a) states that where any application is required to be made to the Central Government under any provision of the Act, and if it is not filed within the time prescribed, the Central Government can condone the delay on the reasons recorded in writing.
Consequently, Is remission the same as condonation? It may be made expressly or impliedly. Condonation or remission is an act of liberality where the creditor gives up his right against the debtor, either in whole or in part, resulting in the extinguishment of the latter’s obligation. [1][2] It is essentially gratuitous and requires the acceptance of the debtor.
What is sufficient cause for condonation of delay? Supreme Court of India. Cites 16 – Cited by 262 – Full Document. State Of Haryana vs Chandra Mani & Ors on 30 January, 1996. mistake of counsel by itself is always sufficient cause for condonation of delay.
Keeping this in consideration, What happens if condonation request is rejected?
Your condonation request is forwarded for approval. This return will be invalid till approvedâ. Hence, in case the assessing officer reject the condonation request, return will be treated as invalid. Since the earlier return as been invalidated, it is advised to file the revised return.
How do I apply for condonation delay?
Step 1: Log in to the e-Filing portal using your user ID and password. Step 2: On your Dashboard, click Services > Condonation Request. Step 3: On the Condonation Request page, select Delay in submission of ITR-V option and click Continue.
How contract is extinguished? This Article enumerates only six (6) of the many ways by which an obligation may be extinguished: payment or performance; loss; condonation or remission; confusions; compensation, and; novation.
How contracts may be extinguished? Extinguishment occurs in a variety of contracts, such as land contracts (common, copyhold), debts, rents, and right of ways. A right may be extinguished by nullifying that right or, in the case of a debt, discharged by payment in full or through settlement.
What are the different kinds of remission? There are two types of remission:
- Partial remission means the cancer is still there, but your tumor has gotten smaller — or in cancers like leukemia, you have less cancer throughout your body. …
- Complete remission means that tests, physical exams, and scans show that all signs of your cancer are gone.
What is 119 2 )( B after condonation of delay?
Section 119(2)(b) of the Income Tax Act, along with circular no 09/2015 issued on 09-06-2015, is a statutory provision for condonation of late filing of returns in circumstances when the assessees could not file their Income Tax returns on time due to genuine hardship.
How do I apply for condonation? bring an application, on affidavit (sworn statement), explaining why the referral is late and why the CCMA should allow the matter to continue (condonation). The Labour Relations Act permits condonation to be granted on âgood cause shownâ. The CCMA Rules set out what the application should contain.
In what circumstances period of limitation may be extended?
Section 5. This section deals with the extension of the prescribed period in certain cases. This section states that any application can be accepted even after the prescribed period if the appellant or application satisfies the court that he had sufficient cause for not making the appeal within the prescribed period.
How long does it take to get condonation request? No time limit has been defined for condonation request. However, it is suggestible to file condonation request as soon as you notice your mistake of not verifying ITR-V within 120 days of filing return.
How long does a condonation application take?
The Commissioner will consider the verbal and written submissions. The Commissioner will issue a Ruling indicating that condonation is either granted or refused. This will usually occur within 14 (fourteen) days after the matter was heard.
What is US 119 2 B after condonation of delay?
Section 119(2)(b) of the Income Tax Act, along with circular no 09/2015 issued on 09-06-2015, is a statutory provision for condonation of late filing of returns in circumstances when the assessees could not file their Income Tax returns on time due to genuine hardship.
Can I file ITR for last 5 years? Filing ITR for Previous Years
According to the Finance Act 1987 amendment, you can file your belated IT return anytime on or before 1 year from the end of the relevant Assessment Year (AY). Example, for the AY 2016-17, the timeline to file a belated return was on or before 31 March 2018.
How do you write a condonation letter? Just add following lines in your covering letter, “the form could not be sent within the prescribed period due to inadvertance. You are therefore requested to condone the delay. Inconvenience caused is highly regretted. The fee for condonation of delay is being sent herewith.”
What are the 3 kinds of delay in law?
There are three kinds of delay namely:
Always keep in mind that the debtor can only have an obligation to give, to do, and not to do, so he can only be delayed between the two, to give and to do, because there is no delay in not to do. One cannot be in delay for not doing at all.
What are the reasons that obligations are extinguished? Obligations are extinguished:
- By payment or performance:
- By the loss of the thing due:
- By the condonation or remission of the debt;
- By the confusion or merger of the rights of creditor and debtor;
- By compensation;
- By novation. ( Article 1231, Civil Code)
What are the grounds for extinguishment of obligations?
Obligations are extinguished: (1) By payment or performance; (2) By the loss of the thing due; (3) By the condonation or remission of the debt; (4) By the confusion or merger of the rights of creditor and debtor; (5) By compensation; (6) By novation. 2.
What is extinguished obligation? An obligation which consists in the delivery of a determinate thing shall be extinguished if it should be lost or destroyed without the fault of the debtor, and before he has incurred in delay.
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