Bombay High Court Allows Revision Under Section 264 of Income Tax Act for Inadvertent Double Taxation of Bonus Provision. The court held that the Commissioner's revisional powers under Section 264 are wide enough to grant relief even after the time for filing a revised return under Section 139(5) has expired, to correct an inadvertent mistake leading to double taxation of excess bonus provision....
The petitioner, Bahar Infocons Pvt. Ltd., filed three writ petitions challenging orders of the Principal Commissioner of Income Tax (PCIT) rejecting its revision applications under Section 264 of the ...
