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2024 (1) TMI 752 - HC - Income TaxRevision u/s 264 - seeking direction to re-consider the claim of the petitioner for deduction u/s 80-IA - difference between Section 263 and Section 264 - HELD THAT:- Under Section 264 of the Act, the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner may either of his own motion or on an application by the assessee for revision, call for the record of any proceeding relatable to an order other than an order to which Section 263 of the Act applies and after making due inquiry, he may pass such order thereon as he thinks fit; the only caveat being that such order should not be prejudicial to the assessee. Therefore, as we have noticed above, there is no limitation on the power of the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner while invoking jurisdiction under Section 264 of the Act. It is not confined to legality or validity of an order passed by the assessing officer or a claim made and disallowed or a claim not put forth by the assessee. A Division Bench of the Bombay High Court in Geekay Security Services (P.) Ltd. (2018 (12) TMI 702 - BOMBAY HIGH COURT) after referring to the Division Bench decision of the Gujarat High Court in Hitech Analytical Services [2017 (9) TMI 1412 - GUJARAT HIGH COURT] and other decisions, Bombay High Court came to the conclusion that Principal Commissioner was not correct in refusing to exercise jurisdiction under Section 264 of the Act to examine the claim of the petitioner on merit. Therefore, the order of the Principal Commissioner was set aside and the matter was remanded back to the Principal Commissioner for a fresh consideration and decision on merit in accordance with law. That being the position and following the decision of the Bombay High Court in Geekay Security Services (P.) Ltd. (supra), we set aside the impugned order dated 28.03.2019 and remand the matter back to the file of the 3rd respondent for re-consideration of the revision application filed by the petitioner u/s 264 of the Act on merit after giving due opportunity of hearing to both the sides.
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