1998 (1) TMI 58

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....the judgment dated May 29, 1991, in O. P. No. 4558 of 1991 (see [1992] 193 ITR 772). In the original petition, the assessee challenged, exhibit P-6 order, dated October 31, 1990, passed by the Commissioner of Income-tax, under section 264 of the Income-tax Act, 1961 (for short "the Act"). In appeal filed against an assessment order relating to the year 1986-87, the assessee (appellant herein) cla....

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....y the appellate order, the assessee filed a revision under section 264 of the Act before the Commissioner of Income-tax. By the impugned order dated October 31, 1990 (exhibit P-6), the Commissioner of Income-tax held as under : "I find that against the assessment for the assessment year 1985-86, the assessee had filed an appeal before the Commissioner of Income-tax (Appeals) and that appeal was d....

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....rder relating to the year 1985-86, no appeal could be said to have been filed against that order and, therefore, the reasons given by the Commissioner of Income-tax in the impugned order passed under section 264 is fully erroneous. The question is whether the loss claimed by the assessee which was not part of the assessment order, can be said to be the subject-matter of the appeal filed against th....

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....e subject-matter of an appeal within the meaning of clause (c) of sub-section (4) of section 264. Admittedly, the claim of loss in the chitty account was not made in the assessment year 1985-86. It is only on the strength of the appellate order relating to the assessment year 1986-87 that the assessee filed a revision under section 264 claiming loss of Rs. 65,590 in chitty account. When there was ....