Gujarat High Court has today rejected the writ petitions for the extensions of Income tax returns and tax audits filing time limits. Gujarat High Court have decided not to interfere in the matter related to revenue as it might have far-reaching implications as per the court.
The court decision was anxiously awaited for relief by the tax professionals and businesses.
Earlier in this case of All India Gujarat Federation of Tax Consultants Vs Union of India, Gujarat High Court directed the government to review and take appropriate action in regard to the extension of tax audit due dates under Section 44AB of the Income Tax Act by 12th January 2021.
Pursuant to the high court directions, CBDT on 11.01.201 through a detailed order under section 119 of the Income Tax Act, 1961 declined to extend the time limits.
(8 reasons why CBDT rejected due date extensions)
Read Full Order by Gujarat High Court
