Delay may be condoned when Bona Fide ‘Sufficient Cause’ is Proven, Negligence not a valid Excuse: ITAT Visakhapatnam

The ITAT has ruled that a delay in filing tax returns or appeals may be condoned if there is a genuine, bona fide reason. The ruling clarifies that negligence alone is not a valid excuse for delay, but genuine causes like illness, technical issues, or other unforeseen circumstances can be considered. This judgment allows taxpayers to seek relief from penalties and consequences of delayed filings, provided they can demonstrate a valid reason for the delay. The decision aims to ensure fairness and leniency towards genuine taxpayers who face unexpected obstacles in complying with tax deadlines.