2012 (6) TMI 359

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....ssee?s case for the assessment year 1997-98 was taken up for scrutiny assessment and an assessment order under Section 143(3) of the Income Tax Act, 1961 (Act, for short) dated 16th March, 2000 was passed. It is noticed that addition of Rs.37,40,568/- was made on account of speculative loss under Section 73 of the Act. In the computation sheet because of additions made, interest under Section 234B....

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....al Commissioner has dismissed the same as not maintainable as the assessee had already availed the remedy of appeal. The Jurisdictional Commissioner has rightly relied upon Section 264(4)(c) of the Act. Once an assessment order itself is made subject matter of challenge before the appellate authorities, the revision petition under Section 264 is not maintainable. The assessment order not only incl....

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....ction. Section 264(4)(c) of the Act does not permit such bifurcation. 5. In the present case, as noticed above, the petitioner had filed an appeal against the assessment order. In the appeal itself he could have raised the issue and contention that interest could not have been charged under Section 234B in the computation sheet. It appears that he did not raise this contention before the first....