9911796707
TMI Blog2009 (12) TMI 25X X X X Extracts X X X X X X X X Extracts X X X X ..... here any errors apparent on the face of the record which attract interference in the present proceeding. The power of this Court to interfere with an order passed by the Commissioner under section 264 of the Act is not automatic." - petition under Section 264 is not in the nature of appeal but understood to be in the nature of mercy petition being largely discretionary. - In the instant case, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) of the Income Tax Act. The assessee has filed a revision under Section 264 of the Income Tax Act on 22.11.2006 after depositing the requisite fee. The Commissioner in its impugned order has taken first ground pertaining to the loan taken by the assessee of Rs. 1,70,000/- from Sri Shyam Kumar Rastogi. Finally, the Commissioner has accepted the savings and loan of Rs. 1,00000/- and so the Commi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of Rs. 70,000/- plus Rs. 2,00000/- is equal to Rs. 2,70,000/-. Not being satisfied, the petitioner has filed the present petition. Heard Sri R.A.Shankhdhar, learned counsel for the petitioner and Sri Ghanshyam holding brief of Sri D.D.Chopra, learned counsel for the opposite-parties. It may be mentioned that Section 264 authorizes the Commissioner of Income Tax either of his own motion or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hab v. ITO another, 232 ITR 624 where it was observed that "the order passed under Section 264 provides substantial relief to the assessee not carrying any miscarriage of justice; nor are there any errors apparent on the face of the record which attract interference in the present proceeding. The power of this Court to interfere with an order passed by the Commissioner under section 264 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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