https://www.taxtmi.com/caselaws?id=448353 Telangana HC allowed revision petition under Section 264 of Income Tax Act. Court held that Principal Commissioner has broad powers under Section 264 to examine any proceeding and pass appropriate orders, not limited to legality or validity issues. Following Bombay HC decision in Geekay Security Services, court set aside Principal Commissioner's order refusing to exercise jurisdiction and remanded matter for fresh consideration of petitioner's claim for Section 80-IA deduction on merit after providing due hearing opportunity. en-us Mon, 12 Jun 2023 00:00:00 +0530 Wed, 17 Jan 2024 08:44:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448353 Telangana HC allowed revision petition under Section 264 of Income Tax Act. Court held that Principal Commissioner has broad powers under Section 264 to examine any proceeding and pass appropriate orders, not limited to legality or validity issues. Following Bombay HC decision in Geekay Security Services, court set aside Principal Commissioner's order refusing to exercise jurisdiction and remanded matter for fresh consideration of petitioner's claim for Section 80-IA deduction on merit after providing due hearing opportunity. Case-Laws Income Tax Mon, 12 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448353