https://www.taxtmi.com/caselaws?id=428034 The Madras High Court allowed the writ petition challenging the rejection of an application for revision under Section 264 of the Income Tax Act for the assessment year 2012-13. The court found the rejection based on delay to be incorrect as a condonation application was filed. It clarified that the assessing officer's powers judgment cited was irrelevant to the Commissioner's powers under Section 264. The court emphasized the broader scope of the Commissioner's power compared to filing a revised return under Section 139(5). The petitioner's claim for exemption under Section 10(38) was accepted, and the impugned order was set aside for further consideration without costs. en-us Fri, 24 Jun 2022 00:00:00 +0530 Thu, 22 Sep 2022 07:40:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428034 The Madras High Court allowed the writ petition challenging the rejection of an application for revision under Section 264 of the Income Tax Act for the assessment year 2012-13. The court found the rejection based on delay to be incorrect as a condonation application was filed. It clarified that the assessing officer's powers judgment cited was irrelevant to the Commissioner's powers under Section 264. The court emphasized the broader scope of the Commissioner's power compared to filing a revised return under Section 139(5). The petitioner's claim for exemption under Section 10(38) was accepted, and the impugned order was set aside for further consideration without costs. Case-Laws Income Tax Fri, 24 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428034