Status of Public Interest Litigation on Section 87A before Bombay High Court

 

The Public Interest Litigation was filed by The Chamber of Tax Consultants in relation to Rebate u/s. 87A against Capital Gains, was originally heard on 20th December 2024.

By way of interim relief, the Hon’ble Bombay High Court had directed the CBDT to allow extension of time to file Belated/Revised return to 15th January 2025.

Accordingly, the date has been extended by CBDT to 15th January 2025.

Further, the matter was kept for final disposal on 9th January 2025.

The same is adjourned at the request of the Revenue to 10th January 2025.

Now, again the matter has been adjourned at 2.30 PM on 14th January 2025.

Taxpayers and taxpayer have to wait till 14th Jan 2015 for final outcome.

Many assesses and taxpayers were waiting for the final outcome of the present petition before filing Revised / Belated return.

However, since the matter has been adjourned to 14th January 2025, and the last day to file Revised/ Belated return is 15th January 2025, therefore, the order of the High Court may not come out before the last day to file Revised /Belated return.

As a result, it is recommended that Revised returns/Belated returns be filed, after claim of rebate under section 87A of the Income-tax Act, 1961, without waiting for the Court’s order, so as to not lose out on the opportunity to make the claim.