TMI Blog2002 (8) TMI 78X X X X Extracts X X X X X X X X Extracts X X X X ..... non-cooperative conduct of the petitioner, be it on the merits of best judgment assessment or the quantum of income determined. At this juncture, we say no more on the merits of the case lest it may cause prejudice to either side. - - - - - Dated:- 7-8-2002 - Judge(s) : D. K. JAIN., MS. SHARDA AGGARWAL. JUDGMENT The judgment of the court was delivered by D.K. JAIN J.-Rule D. B. Since a very short point is involved, with the consent of learned counsel for the parties, we take up the matter for final disposal. Order dated March 21, 2001, passed by the Director of Income-tax (Exemptions), New Delhi, under section 264 of the Income-tax Act, 1961 (for short "the Act"), pertaining to the assessment year 1997-98, is under challenge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned counsel would submit that though the factual position in respect of the assets of the society is noticed in the order no finding with regard to accrual of income from any of the assets has been recorded by the revisional authority. It is asserted that since all the properties of the trust in Jammu and Kashmir were taken over by the State Government without awarding any compensation and the properties of the trust at other places were in the possession of outsiders and subject-matter of litigation, the petitioner-trust did not derive any income therefrom after the demise of Shri Dhirendra Bhramachari, the founder of the society, in the year June, 1994. It is pointed out that the assessments for the assessment years 1976-77 to 1993-94 hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on an objective consideration of the facts and circumstances of the case. The power is coupled with a duty to be exercised in the interest of doing real justice between the parties, particularly when under the Act the order passed under section 264 is final. In Dwarka Nath v. ITO [1965] 57 ITR 349 (SC), while dealing with the question whether the order of the Commissioner under section 33A of the Indian Income-tax Act, 1922, in pari materia with section 264 of the Act, is judicial or quasi-judicial, the Supreme Court observed that prima facie, the jurisdiction conferred under the section is a judicial one. It was said that the nature of the jurisdiction and the rights decided carry with them necessarily the duty to act judicially in dis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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