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2012 (11) TMI 720 - HC - Income TaxRejection of Revision u/s 264 – Penalty - CIT stated that revision proceedings are contemplated only to mitigate the situation faced by the assessee who are unable to approach the appellate authority for relief. The Commissioner noted that the assessee had already exercised his right of appeal before the appellate authorities. He cannot claim relief under section 264 of the Act. - held that:- The fact that the assessee had preferred appeal against quantum additions would not therefore, take away his right to file revision application against the order of penalty. - Commissioner was wholly misguided in his approach. With respect to the Commissioner's stand that deletion of quantum additions not having achieved finality, the revision should be dismissed, also not in agreement.- The penalty was based on certain quantum additions. Such additions came to be deleted by the Commissioner(Appeals). Further appeal by Revenue before the Tribunal was rejected. When the Commissioner was deciding the revision petition of the assessee, what was prevailing was the order of the Tribunal. It may be that further appeal by the Revenue against such decision of the Tribunal was pending before High Court. Mere pendency of appeal before High Court or even admission would not annul the order of the Tribunal or even of course in absence of stay, keep it in abeyance. - Matter remanded back to CIT for fresh consideration.
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