Transformers & Electricals Kerala Ltd. v. Dy. CIT
INCOME TAX ACT, 1961
--Revision under section 264--Scope ofClaim not made in return of income--Assessee approached CIT invoking section 264--Where assessee could not make a claim in return of income and time for revisions of return was already elapsed, the assessee was very much entitled to file a revision petition before CIT and CIT was not justified in dismissing review petition filed under section 264 for want of jurisdiction for the same was very much available to him as revisional powers are wide enough.--Though assessee was entitled to certain deduction which had been disallowed in earlier year on technical grounds, no alternate claim was made in the relevant year as earlier assessment order was subject matter of pending adjudication. Assessee resorted to revisionery jurisdiction as time for filing a revised return had expired. CIT rejected the revision petition on the ground that a fresh claim for deduction can be allowed only by way of filing a revised return and that apart, since assessee had approached the CIT(A) for relief, assessment order could not be interfered with. Held: Very wide powers have been conferred on the CIT under section 264. Even it is open to assessee to seek revisional jurisdiction in respect of an item not claimed by mistake, the jurisdiction of CIT even where a revised return was not filed, was very much available. Accordingly, CIT was directed to consider revision petition.
Income Tax Act, 1961 Section 264
Relied:Parekh Bros. v. CIT (1984) 150 ITR 105 (Ker). Distinguished:Goetze (India) Ltd. v. CIT (2006) 284 ITR 323 (Sc).
REFERRED :
FAVOUR : In assessee's favour
A.Y. : 2008-09
IN THE KERALA HIGH COURT
A.M. SHAFFIQUE, J.
Transformers & Electricals Kerala Ltd. v. Dy. CIT
WP (C) No. 9870 of 2013 (G)
11 August, 2016
Petitioner by: Joseph Markose, Sr. Advocate, V. Abraham Markos, Mathews K. Uthuppachan, Binu Mathew, Terry V. James, Tom Thomas (Kakkuzhiyil) and Abraham Joseph Markos, Advocates