https://www.taxtmi.com/caselaws?id=35204 The petitioner challenged the Commissioner's order under Section 264 of the Income Tax Act, addressing various grievances related to loans and additions. The Commissioner sustained a total addition of Rs. 2,70,000, exercising discretion in favor of the assessee. The court highlighted the limited scope of interference with Section 264 orders, emphasizing the discretionary nature of such petitions. Despite a proposal to send the matter back for reexamination, the petitioner chose not to pursue the petition further. As a result, the petition was dismissed as "not pressed" on 7.12.2009. en-us Mon, 07 Dec 2009 00:00:00 +0530 Thu, 21 Jan 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35204 The petitioner challenged the Commissioner's order under Section 264 of the Income Tax Act, addressing various grievances related to loans and additions. The Commissioner sustained a total addition of Rs. 2,70,000, exercising discretion in favor of the assessee. The court highlighted the limited scope of interference with Section 264 orders, emphasizing the discretionary nature of such petitions. Despite a proposal to send the matter back for reexamination, the petitioner chose not to pursue the petition further. As a result, the petition was dismissed as "not pressed" on 7.12.2009. Case-Laws Income Tax Mon, 07 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35204