Assessee filed its return of income belatedly, claiming a loss of a certain amount. The assessee filed an application for condonation of delay under section 119(2)(b). Assessee claimed that the delay occurred because the Chartered Accountant was not acquainted with the legal and accounting treatment to be given apropos compensation received in the form of TDR in lieu of compulsory acquisition of certain immovable property and, accordingly, he had to seek appropriate legal advice.  Commissioner rejected the assessee because the assessee failed to exercise due diligence to ensure the timely filing of its return and due to the assessee’s lack of supervision. On writ, the Court held that the delay in filing return was not due to any negligence on the part of the assessee but due to inadequate advice by a Chartered Accountant, which fact stood admitted by him in his affidavit. Whether the issue that was being grappled with was fairly complex and there were no well-settled judicial precedents at the relevant time, assessee ought not to be put to a considerable disadvantage as a result of belated advice given to it by a Chartered Accountant.  Court also held that, in view of the provisions of section 153(1B), the Assessing Officer would have 12 months from the end of 31-3-2026 to complete an assessment, i.e. he will have time till 31-3-2027 to frame an assessment under section 143/144, thus, there would be no prejudice to revenue if the delay was condoned. Accordingly, the delay in filing the return was condoned, and the return filed was to be treated as the return filed in accordance with section 153(1B) of the Act. (AY. 2018-19)