Assessee can resort to section 264 proceedings, even if he has approached appellate authority

HIGH COURT OF GUJARAT Aryaman Spinners (P.) Ltd. Versus Commissioner of Income tax SPECIAL CIVIL APPLICATION NO. 10636 OF 2012 OCTOBER 10, 2012 ORDER Akil Kureshi, J Heard learned counsel for the parties for final disposal of the petition. 2. The petitioner has challenged an order dated 9.1.2012 passed by the Commissioner of Income-tax under section 264 of the Income-tax Act, 1961 (“the Act” for short). Brief facts are as follows : 2.1 The petitioner assessee for the assessment year 2003-2004 by filing the return of income declared loss of Rs. 93,33,000/-. The Asse...