High Court Overturns CIT Decision: Late Fee Payment Rectifies Non-Compliance u/s 264, Favoring Assessee.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Revision u/s 264 in favor of assessee - Commissioner has rejected the revision petition u/s 264 on the ground of that the Petitioner did not comply with the mandatory requirement of payment of prescribed fees - the petitioner paid the requisite fee, though belatedly and thus cured the irregularity - order of CIT is not sustainable - HC....