Sec. 264 of Income Tax Act, 1961 - Revision - According to section 8 of W.T. Act, the income-tax authorities specified in Section 116 of the IT Act shall be the wealth-tax authorities for the purpose of the Act and every such authority shall exercise the powers and perform the functions of a wealth-tax authority under this Act in respect of any individual, Hindu undivided family or company, and for this purpose his jurisdiction under this Act shall be the same as he has under the IT Act by virtue of orders or directions issued under Section 120 of that Act or under any other provision of this Act. Thus, According to the section 8 of W.T. Act, exercise of powers of respondent under Section 25 of said Act is clearly comparable with exercise of powers of Principal Commissioner /commissioner under Section 264 of IT Act. - LAKSHMI MUTHUKRISHNAN V/s PR. CIT - [2020] 315 CTR 439 (MAD)