Law:

Section:

Section 264 of the Income-tax Act, 1961 - Revision - Of other orders - Assessment years 1978-79 and 1980-81 - Assessee's assessment for relevant assessment years had been completed - Though assessee was entitled to prefer a revision within a period of one year from date of assessment order, it, without availing that remedy, filed writ petitions - High Court, by order dated 22-12-2000, dismissed writ petitions directing assessee to file revision petitions within a month from date of order - However, assessee filed revision petitions only on 7-5-2001 and same were dismissed on ground that they were filed beyond one month as prescribed by Court - Assessee challenged order of revisional authority contending that it was not aware of period prescribed by Court as order was passed on last working day before Court closed for Christmas holidays, i.e., 22-12-2000, and Court pronounced only operative portion of order; and that it was only when copy of order was obtained on 16-4-2001, that revision petitions were filed within one month - Whether on facts, there was no reason to discard assessee's explanation and, therefore, orders passed by revisional authority were to be set aside and revision petitions were to be restored to file - Held, yes FACTS For the assessment years 1978-79 and 1980-81, the assessments of the assessee had been completed on 6-12-1993 and 21-2-1994, respectively. Though, in terms of section 264(3), the assessee was entitled to prefer a revision within a period of one year from date of assessment order, it, without availing of that remedy, filed writ petitions. The High Court, by an order dated 22-12-2000, dismissed the same directing the assessee to file revision petitions within one month from the date of order. The assessee, however, filed revision petitions on 7-5-2001 contending that it was not aware of period prescribed by the Court as order was passed on last working day before the Court closed for Christmas holidays, i.e.,22-12-2000 and the Court pronounced only the operative portion of the order; that its application for order copy had been lost by the court registry; and that it was only when on re-application on 27-2-2001, the copy of the…

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