Rajesh Gupta V. Asstt Commissioner of Income Tax & ANR.

W.P.(C)/16644/2025

AI Insights

The case involves Rajesh Gupta, the petitioner, who sought the issuance of Form  from the Assistant Commissioner of Income Tax. The petitioner relied on precedents which interpreted Section 54(2) of the Income Tax Act of 1961 to include belatedly filed returns. However, the court found that Section 54(2) specifically refers to Section 139(1), which requires timely deposit into the Capital Gain Saving Account by the due date of filing the Income Tax return. In this instance, the return was filed and the amount was deposited after the due date, leading to the decision that the initial order was not in accordance with the statutory provisions. The case was scheduled for a fresh hearing to address these issues.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 828174 (HC-DELHI)
• Appeal Type: Others
• Pronouncement Date: 07-01-2026
• Assessment Year: misc
• Other Referred Cases: Commissioner of Income-tax, Rohtak v. Jagtar Singh Chawla, Commissioner of Income-tax v. Rajesh Kumar Jalan
• Laws Referred To: Income Tax Act of 1961
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: SHLOK CHANDRA; NAINCY JAIN; MADHAVI SHUKLA; UDIT DAD
• Assessee Lawyers: VIKRAM KAPOOR; SHIVA NARANG
• Keywords: Belated return filing; Income Tax; Form ; Capital Gain Saving Account
• Section: 139(1); 139; 54(2)

Judgement Text

"$~4 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 16644/2025, CM APPL. 72648/2025 (for addl. Documents) RAJESH GUPTA .....Petitioner Through: Mr. Vikram Kapoor and Mr. Shiva Narang, Advs. versus ASSTT COMMISSIONER OF INCOME TAX & ANR. .....Respondents Through: Mr. Shlok Chandra, SSC, Ms. Naincy Jain, Ms. Madhavi Shukla, JSCs and Mr. Udit Dad, Adv. CORAM: HON'BLE MR. JUSTICE DINESH MEHTA HON'BLE MR. JUSTICE VINOD KUMAR O R D E R % 07.01.2026 1. Both the rival counsel were heard and the petition was allowed and by an oral order dictated in open Court, the respondent for Union of India (UOI) was directed to issue Form ‘H’, relying upon the version of the counsel that Section 54(2) of the Income Tax Act of 1961 (hereinafter referred to as ‘the Act of 1961’) makes a reference of Section 139 of the Act of 1961 only and as has been held in the case of Commissioner of Income- tax, Rohtak v. Jagtar Singh Chawla, reported in (2013) 33 taxmann.com 38 (Punjab & Haryana) and Gauhati High Court in the case of Commissioner of Income-tax v. Rajesh Kumar Jalan reported in (2006) 286 ITR 274/157 taxman 398, it would include the returns filed belatedly as This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 12/01/2026 at 12:24:33 Printed from counselvise.com well. 2. However, while correcting and verifying the facts and provision, it has come to our notice that Section 54(2) of the Act of 1961 makes a specific reference to Section 139(1) of the Act of 1961. 3. Meaning thereby, the amount in the Capital Gain Saving Account is required to be deposited latest by the due date of filing Income Tax return, which in the instant case has not been done. 4. There are significant factual differences between the case in hands and the judgments cited by learned counsel for the petitioner inasmuch as the return had been filed by the assessee on 15.11.2024 and the amount of Rs.75,00,000/- came to be deposited on 24.12.2024. 5. Therefore, the submissions made at the bar and the order as dictated, may not sustain on the anvil of statutory provisions. Be that as it may. The matter requires to be heard afresh in light of the statutory position and the facts involved. 6. List this case on 13.01.2026 for ‘directions’. DINESH MEHTA, J. VINOD KUMAR, J. JANUARY 7, 2026/ss This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 12/01/2026 at 12:24:33 Printed from counselvise.com "