Section 264 of the Income-tax Act is an equitable or beneficial provision which can provide meaningful relief to a taxpayer in situations where he may otherwise be deprived of adequate remedy.
Powers of revision in the interest of taxpayer Under section 264, an Income-tax Commissioner is empowered to exercise powers of revision in the interest of the taxpayer. In the exercise of this power, the Commissioner may either of his own motion or on an application by the taxpayer, call for the record of any income tax proceeding and pass such order thereon, not being an order prejudicial to the taxpayer.
The revisionary power by the Commissioner is to be exercised within a limitation of one year, either in case of a suo motu action or at the instance of the taxpayer, with the added discretion to condone delay in a case where he is satisfied that the taxpayer was prevented by sufficient cause from preferring an application within the prescribed period.
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Denne historien er fra November 25, 2024-utgaven av Ahmedabad Mirror.
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Internationalisation of UPI progressing rapidly, says RBI
India emerges as leader in leveraging digital tech for transformative change
Too little, too distant!
India rejects $300 bn climate finance package for Global South
Earth bids farewell to its temporary 'mini moon'
The asteroid, that's been tagging along as a 'mini moon' for the past two months, is possibly a chunk of our actual moon
Three die after car, using Google Maps, falls from incomplete bridge in UP
GPS wasn't updated about the under-construction bridge in Bareilly where victims' car fell into river
Paris never went under the knife
The socialite reveals she has never done any cosmetic work on herself
Ariana first met a therapist at 8
Singer and actress wanted help for herself to 'process' parents' divorce
The heartbeat of Bollywood's leading ladies
The voice of generations, Lata Mangeshkar became the soul and a definitive voice for all
Vijay, Rashmika out for lunch date
Actors Vijay Deverakonda and Rashmika Mandanna, who are reportedly dating, were seen gorging on yummy delicacies as they went out for a lunch date.
'I'M NOT A BORN REBEL'
Says versatile & veteran actor Amol Palekar who has voiced strong opinions on both cultural and political matters without any fears
Ranveer, Aditya seek Golden Temple's blessings
Bollywood star Ranveer Singh and filmmaker Aditya Dhar sought divine blessings at the Golden Temple in Amritsar before commencing the next schedule of their yet-untitled film in the city.
