(1) The Joint Commissioners of State Tax having jurisdiction over the area may, for valid and sufficient reasons, to be recorded in writing, condone delay,-

(a) in the applying for any refund under this Act and Rules made there under,

(b) in filing option under section 8 of this Act, up to 31st December 2008 for the years 2005-06, 2006-07, 2007-08 and 2008-09:

Provided that the time limit for completion of any assessment under this Act shall be extended by a further period of three years from the date of condoning such delay, under this section.

(2) With respect to works contracts awarded by Government of Kerala, Kerala Water Authority or Local Authorities, the District Deputy Commissioner may, for valid and sufficient reasons to be recorded in writing, condone delay for filing of option under section 8 up to the date of filing of annual returns as prescribed under this Act. The application for condonation of delay shall be submitted along with the order of rejection of the option citing the reasons, of the assessing authority.