Application u/s. 154 for rectification of order passed by CIT U/s. 264 is maintainable

HIGH COURT OF BOMBAY Janata Co-operative Bank Ltd. versus Commissioner of Income-tax WRIT PETITION NO. 10653 OF 2011 DECEMBER 15, 2011 JUDGMENT 1. These proceedings are directed against an order passed by the Commissioner of Income-tax-1, Nashik, on June 27, 2011, declining to exercise his jurisdiction under section 154 of the Income-tax Act, 1961. An order was passed under section 264 by the Commissioner of Income-tax on December 6, 2010, in revision against an order of assessment for the assessment year 2007-08 finalized on December 21, 2009, under section 143(3) by the Add...