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Section 264 Powers Are Wide and Meant to Correct Genuine Errors: Bombay HC
Case Law Details
- Case Name
- Ramesh Madhukar Deole Vs PCIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Ramesh Madhukar Deole Vs PCIT (Bombay High Court)
The Bombay High Court set aside an order passed by the Principal Commissioner of Income Tax rejecting a revision application under Section 264 of the Income-tax Act, 1961 as not maintainable. The assessee had originally filed the return for AY 2018–19 in the wrong form and later submitted a corrected return claiming exemption on capital gains under Section 54F of the Income-tax Act, 1961 arising from surrender of tenancy rights and investment in a new residential flat. Due to non-submission of documents in response to a notic...
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