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2004 (6) TMI 26 - HC - Income TaxCIT rejecting the petitioner's application for condonation of delay in filing the revision petitions under section 264 on the ground that the petitioner had not shown sufficient cause – Held that it cannot be assumed at the outset that what the petitioner had received was general subsidy and on that basis one should jump to the conclusion that the orders passed by the Assessing Officer in the year 1986 were so illegal, arbitrary and perverse as to treat them as orders causing gross and manifest injustice warranting either interference by the Commissioner of Income-tax in exercise of his powers under sub-section (3) of section 264 for condoning the delay of nine years or to warrant interference of this court in exercise of its extraordinary, prerogative and discretionary writ jurisdiction under article 226 of the Constitution. – Petition is dismissed
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