TMI Blog1995 (7) TMI 55X X X X Extracts X X X X X X X X Extracts X X X X ..... isdiction under section 264 of the Income-tax Act, 1961 (for short, 'the Act') by entertaining a revision application arising out of an order passed under rule 40 of the Income-tax Rules, 1962, and decide the same on the merits ? " The facts, in brief, leading to this petition are as under : The petitioner-firm, Kanodia Cold Storage, 50-A, Tara Kutir Road, Allahabad, at the relevant period was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lies and provision for revision is there, indeed, revision can certainly be maintainable provided the order under revision is without jurisdiction inasmuch as the authority acted in exercise of the jurisdiction illegally or with material irregularity, or exercised the jurisdiction not vested in it by law, or where the authority failed to exercise the jurisdiction so vested in it. In the instant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er impugned cannot be sustained in the eye of law. From the discussion aforesaid, the order impugned dated March 3, 1981, contained in annexure " 5 ", to this petition is quashed and the case is remanded to the Commissioner of Income-tax-respondent No. 1, to decide the petitioner's revision application in accordance with law. With the above direction, this petition is finally disposed of. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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