1999 (10) TMI 6 - SC - Income Tax

High Court was right in holding that no ground was made out for condoning the delay in filing the application u/s 264 - submission by learned counsel that the petition under section 264 was pending when the application under section 88 of the Finance (No. 2) Act, 1998, had been filed, is not accepted - because what was really pending was the application for condonation of delay

Summary

The Supreme Court dismissed a special leave petition regarding the condonation of delay in filing a revision application under section 264 of the Income-tax Act, 1961. The petitioner's application under section 88 of the Finance (No. 2) Act, 1998, was not entertained due to the delay not being condoned. The High Court upheld the Commissioner's decision not to condone the delay. The Supreme Court agreed with the High Court's decision and dismissed the special leave petition.