Disposal of revision petitions u/s264. - Income Tax - 1649/CBDT

INSTRUCTION NO. 1649/CBDT Dated: September 18, 1985 Public Accounts committee have recommended that a time limit is necessary for the disposal of revision petitions filed before the CsIT. Having regard to this recommendations it has been decided with the approval of the Finance Minister that appropriate administrative measures should be taken for ensuring prompt disposal of such petitions. It is therefore advised that CITs should ensure that all Revision Petitions u/s.264 of the I.T.Act and other Direct Taxes Acts are disposed of within one year from the end of the financial year in which the application is received. Non disposal of any such petition during the above period should be reported to the board in a quarterly statement as per the proforma enclosed with reasons therefore individually.