High Court Criticizes CIT for Lack of Pragmatic Review in Section 264 Order Revision; Best Judgment Passed Ex Parte.

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....Revision of order u/s 264 - CIT rejected the review application - Best judgment assessment passed ex parte - The Officers vested with an obligation to discharge judicial functions are legitimately expected to resort to application of mind in a pragmatic and reasonable manner which is conspicuously absent in the instant case. - HC....