1990 (11) TMI 26

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....itioner has presented these petitions questioning the legality of the order passed by the Central Board of Direct Taxes rejecting an application made by the petitioner under section 119(2)(b) of the Income-tax Act. The brief facts of the case are these: The petitioner is a private limited company. Its business is manufacture of paints. Commercial production commenced in the year 1974. Income-ta....

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....came to Rs. 1,90,000. In the circumstances, the petitioner made an application before the Central Board of Direct Taxes under section 119 of the Act. The said section empowers the Board to grant relief to assessees, if it is satisfied that any claim or application which was required to be made within the time prescribed under any of the provisions of the Act was not so done for good reasons and to....

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....bove and to say that the Board has considered your petition and regrets its inability to accede to your request. Questioning the legality of the said decision, the petitioner has presented these petitions. Learned counsel for the petitioner contended that though under subsection (2) of section 119 of the Act, the Board is conferred with the power to grant the relief, the Board had declined t....

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....the Act was wide enough to give the relief sought for and quashed the endorsement and remitted the matter for reconsideration. Learned counsel would have been right in his submission if, in this case, the Central Board of Direct Taxes had rejected the petition of the petitioner on the ground that it had no jurisdiction to grant the relief which the petitioner had sought for at the hands of the Cen....