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Documents citing Pramod R. Agrawal-Applicant vs Principal Commissioner Of Income Tax-5 on 7 October, 2023

Surat Trade And Mercantile Limited vs Principal Commissioner Of Income Tax ... on 1 October, 2024

20. Having heard Learned advocates for the respective parties and considering the facts of the case it is apparent that the petitioner has not claimed LTCG on extinguishment arising on account of loss arising on account of extinguishment of shares of Garden Silk value of shares of Garden silk pursuant to order dated 01.01.2021 passed by the NCLT. Respondent No.1 is however supposed to consider merits of the case while entertaining revision petition filed by the petitioner under section 264 of the Act and it is not in dispute that the petitioner has availed the remedy of revision within the prescribed period of limitation and the respondent therefore ought to have considered the claim of the petitioner for Page 16 of 31 Uploaded by JYOTI V. JANI(HC00213) on Thu Oct 10 2024 Downloaded on : Sat Oct 12 22:36:44 IST 2024 NEUTRAL CITATION C/SCA/9157/2024 JUDGMENT DATED: 01/10/2024 undefined loss on account of extiguishment of the value of shares in the investment of shares of Garden as per the order passed by the NCLT which was not claimed by the petitioner in the original return of income. The Hon'ble Bombay High Court in case of Pramod R. Agraval (supra) has considered the scope of power under section 264 of the Act as under:
Gujarat High Court Cites 24 - Cited by 0 - B D Karia - Full Document

Swaminarayan Mandir Trust Ltd 2018 19 vs Commissioner Of Income Tax ... on 24 December, 2025

17. Secondly, the question under consideration is whether the prescribed authority can exercise its power under Section 264 to make good the mistakes/errors which are committed by the assessee itself in the return of income. This aspect is no longer res-integra. This Court has time and again held that the powers conferred on the Commissioner under Section 264 , are not only wider in its scope but are also intended for the purpose of preventing miscarriage of justice and for providing relief to an assessee, which it is otherwise entitled to. This Court in the case of Pramod R. Agrawal (supra) held as under:-
Bombay High Court Cites 12 - Cited by 0 - B P Colabawalla - Full Document

Swaminarayan Mandir Trust Ltd 2017 18 vs Commissioner Of Income Tax ... on 24 December, 2025

17. Secondly, the question under consideration is whether the prescribed authority can exercise its power under Section 264 to make good the mistakes/errors which are committed by the assessee itself in the return of income. This aspect is no longer res-integra. This Court has time and again held that the powers conferred on the Commissioner under Section 264, are not only wider in its scope but are also intended for the purpose of preventing miscarriage of justice and for providing relief to an assessee, which it is otherwise entitled to. This Court in the case of Pramod R. Agrawal (supra) held as under:-
Bombay High Court Cites 12 - Cited by 0 - B P Colabawalla - Full Document

Swaminarayan Mandir Trust Ltd 2015 16 vs Commissioner Of Income Tax ... on 24 December, 2025

17. Secondly, the question under consideration is whether the prescribed authority can exercise its power under Section 264 to make good the mistakes/errors which are committed by the assessee itself in the return of income. This aspect is no longer res-integra. This Court has time and again held that the powers conferred on the Commissioner under Section 264 , are not only wider in its scope but are also intended for the purpose of preventing miscarriage of justice and for providing relief to an assessee, which it is otherwise entitled to. This Court in the case of Pramod R. Agrawal (supra) held as under:-
Bombay High Court Cites 12 - Cited by 0 - B P Colabawalla - Full Document
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