I would like to once again analyse the Order issued by CBDT on extension of date from 30-09-14 to 30-11-14.. The wordings of the said order goes that:- extends the due date for obtaining and furnishing of the report of audit under section 44AB of the Act for Assessment Year 2014-15 in case of assessees who are not required to furnish report under section 92E of the Act from 30th day of September, 2014 to 30th November, 2014. Now, this order clearly mentions that not only the date of FURNISHING TAR has been extended but also OBTAINING TAR (meaning conduct and finalising of Audit) has been extended to 30-11-14. Now, lets read Sec 139 which deals with the provisions of filing of return of income by different types of assessees and its Explanation 2 gives the meaning of the Due Date in which return needs to be filed and this Explanation goes as follows:- Due date means,- where the assessee is (a) a company, or (b) a person (other than a company) whose accounts are required to be audited under this Act or any other law for the time being in force, or (c) a working partner of the firm whose accounts are required to be audited under this Act or any other law for the time being in force, the 30th Day of September of the assessment year. This explanation clearly mention that where there is a requirement of Audit (or Audit has to be completed) then it has to be completed before 30-09-2014 and then only a return can be filed. Moreover, Sec 44AB also refers to the date of completion of the Audit as referred to in Sec 139 and does not have its own independent time schedule. Now, reading the current Order of extension of Due date along with the provisions of Sec 139 and Sec 44AB, the date has been extended for conduct of Audit also and consequently ALSO for filing of return in case of Auditable cases from 30-09-14 to 30-11-14. Please go through this and correct me if I am wrong.
Posted on: Sun, 24 Aug 2014 02:37:14 +0000
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