Held, that the application for revision had been filed on the ground that certain subsidies received by the assessee were erroneously treated as revenue receipts instead of capital receipts.\u00a0 After the receipt of the order of the Tribunal for the Assessment year 2012-13, the petitioner filed Revision application on July 1, 2019, within five months from the date of receipt of the order of the Tribunal\u00a0 and the time limit for filing revision application was expired on January 16, 2018..Commissioner\u00a0 has not condoned the delay and dismissed the petition. On writ\u00a0 the Court held that power should be exercised in a liberal manner\u00a0 and\u00a0 delay should\u00a0 have been\u00a0 condoned where. Accordingly\u00a0 \u00a0the order dated March 20, 2020 passed by the Commissioner under section\u00a0264\u00a0of the Act is\u00a0 quashed and set aside. Commissioner is directed to\u00a0 (AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 264 : Commissioner-Revision of other orders-Subsidy-Erroneously treated as revenue-Return was processed under section 143(1)-Revision application was rejected without condoning the delay-Power should be exercised in a liberal manner-Delay should be condoned where there is sufficient cause for it.[S. 264(3), Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-47663","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-coL","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=47663"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47663\/revisions"}],"predecessor-version":[{"id":47664,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47663\/revisions\/47664"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=47663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=47663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=47663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}