1998 (11) TMI 55

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....roached the Commissioner to revise the order of the Assessing Officer so as to take into account the tax deducted at source certificate produced by the assessee before the Commissioner. The Commissioner did not hold that the certificate was not genuine or that the deduction could not, for any other reason, be allowed. He declined to examine the matter on the short ground that the assessee had preferred an appeal against the order of assessment and, therefore, it could not avail of the remedy provided under section 264 of the Income-tax Act. The assessee, thereafter, applied to the Central Board of Direct Taxes on May 31, 1990, invoking the Board's power under section 119(2)(b) of the said Act. What it elicited was a two line order inform....

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....earned counsel submitted that the Board is not required to give any reason for the rejection of the application tinder section 119(2)(b) of the said Act, which vests power in the Board to admit an application or claim for any exemption, deduction, refund or any other relief under the said Act after the period specified under the said Act for such application or claim, if it is considered by the Board to be desirable or expedient so to do for avoiding genuine hardship in any case or class of cases. The power, therefore, is to be exercised in cases where genuine hardship will result if the assessee is not granted the relief sought in respect of a matter covered by that provision. The time for filing a return of income is specified in secti....