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2014 (11) TMI 951 - HC - Income TaxScope and jurisdiction of CIT – Exercise of power u/s 264 – Held that:- In normal circumstances, the Commissioner, after condoning the delay in filing the revision petition, should take up the revision petition on merits and consider the claim of the assessee, in terms of Section 264 - the Commissioner did not examine, as to whether the claim of the petitioner that it has been taxed twice for the amount was bonafide, but the Commissioner proceeded with the aspect, as to whether the revised return for the AY 2002-03 filed by the petitioner on 24.3.2005 was valid - the Commissioner relied on Section 139(5) of the Act and observed that the revised return was filed beyond the time limit and the AO did not take any action on the revised return and the same was in confirmity with the law - the Commissioner should have gone into the factual aspect as to whether the assesssee was taxed twice for the amount - the Commissioner has wide power u/s 264 and in exercise of such power, the Commissioner ought to have considered the claim of the petitioner, as to whether it has been taxed twice for the amount of ₹ 11,41,607/- under the head installation charges relating to KG Hospital – thus, the matter is remitted back to the CIT for fresh consideration in exercise of power u/s 264 – Decided in favour of assessee.
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