https://www.taxtmi.com/caselaws?id=757733 Gujarat HC quashed the Commissioner's order rejecting a revision application under Section 264 for delay. The petitioner filed revision within five months of receiving Tribunal's order regarding subsidies being capital receipts (following SC precedent in Chaphalkar Brothers). HC held the Commissioner should have taken a liberal approach rather than pedantic stance, finding sufficient cause for delay with no negligence or mala fide. The delay was condoned and matter remanded for decision on merits. en-us Mon, 29 Apr 2024 00:00:00 +0530 Sat, 31 Aug 2024 07:54:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757733 Gujarat HC quashed the Commissioner's order rejecting a revision application under Section 264 for delay. The petitioner filed revision within five months of receiving Tribunal's order regarding subsidies being capital receipts (following SC precedent in Chaphalkar Brothers). HC held the Commissioner should have taken a liberal approach rather than pedantic stance, finding sufficient cause for delay with no negligence or mala fide. The delay was condoned and matter remanded for decision on merits. Case-Laws Income Tax Mon, 29 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757733