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2012 (6) TMI 652 - HC - Income TaxWrit petitions – condonation of delay in selling the company shares - CBDT rejected the petitions filed by the petitioner on the ground that it has no power to condone the delay - Held that:- CBDT has sufficient powers under section 119(2)(b) of the Income-tax Act, 1961, to consider the desirability or expediency of granting relief under the Act, even after the expiry of the period of limitation provided under any specific provision and dispose of the matter on the merits in accordance with law. Writ petitions allowed.
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