INCOME TAX ACT, 1961

Section 264

Revision under section 264 - Other orders - Period of limitation of one year for filing a revision application -

Assessee was member of partnership firm from which he retired and received a sum from the said partnership firm towards his share in goodwill. Assessee filed a revision application before CIT against the order of assessment, and requested that amount be deleted from computation of his taxable income. In such revision petition, assessee had stated that intimation under section 143(1) was not served on him and that therefore, there was no delay on his part in filing the revision application. CIT dismissed the revision petition by order, on the ground that the same was filed much beyond the period of limitation prescribed. Held: Department did not propose to take return of income for scrutiny assessment, could be attributed to assessee. If assessee had any dispute with department accepting his return as per declaration made in it, assessee had to file an appropriate revision application before CIT, within a period of one year thereafter, and at any rate, explaining the delay caused in filing such a revision application beyond the said period. Revision application was filed seven years later. By no stretch of imagination, such long period could be ignored. Assessee could not take shelter of non-communication of the intimation or acceptance under section 143(1).

REFERRED :

FAVOUR : Against the assessee.

A.Y. :

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