The Central Board of Direct Taxes (CBDT) has issued new monetary limits in respect of condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the Income-tax Act, 1961.The Principal Commissioners of Income-tax/Commissioners of Income-tax (Pr. CsIT/CSIT) shall be vested with the powers of acceptance/rejection of applications/claims if the...
