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2017 (2) TMI 455 - HC - Income TaxRevision u/s 264 - whether benefit of Section 54F could be granted when it was originally not claimed during the assessment proceedings - Held that:- Unless there is a direct impediment to the power under Section 264 (exercisable by the Commissioner) which inhibits the grant of relief, it is per se admissible. The impediment may be in the form of a substantive provision which might place a time limit, to the grant of such relief or it may be otherwise. In the present case, the concerned provision Section 54F, does not per se contain any such impediment. Therefore, as far as the text of the provision goes, this Court is of the opinion that there is no bar in the grant of the relief despite the assessee apparently having missed the bus and having committed the mistake. The interpretation of this Court is clarified by the ruling of the Jammu & Kashmir High Court in Snehlata (2004 (4) TMI 579 - JAMMU & KASHMIR HIGH COURT ) where too the question was whether in the absence of the assessee’s claiming relief under Section 54F either in the original return or even in the revised return, it could be granted in revision. The Court unequivocally held that it could be granted. In view of the above discussion, we are of the opinion that the petition has to succeed. The matter is remitted to the AO for consideration who shall take into account the petitioner’s claim preferred by it in its revision petition and having regard to the provisions of the law.
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