ITO Vs. OCEAN ELECTRONICS LTD

JUDGEMENT

(1.) The present matter relates to late filing of income-tax returns by respondent No. 1 company for the assessment year 1988-89. The return is stated to have been filed but delayed by more than twelve (12) months.

(2.) The petitioner department is aggrieved by the impugned order dated 5-7-2005 wherein respondent No. 3 has been discharged since there was no material placed on record to show that he was either the director of the company or looking after the day-to-day affairs of the company.

(3.) The present petition is also accompanied by an application for condonation of delay in re-filing which is to the extent of 600 days.