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TMI Blog2024 (12) TMI 1271X X X X Extracts X X X X X X X X Extracts X X X X ..... other aspect, where after considering the matter, the revision authority may take a different view on merits, but, it cannot decline consideration, when the Assessee commits a mistake/error. Secondly, as rightly highlighted by learned counsel for the petitioner, the application under Section 264 was rejected by stating that the application under Section 264 is filed, just to get advantage of reduction in SRO values. No iota of reason is mentioned in the impugned order as to why the Annexure-II showing SRO rates mentioned in para No.4 of the impugned order was not applicable or trustworthy. No other SRO value, which is held to be reduced one, is also mentioned. We are convinced that both the reasons for not entertaining the application u/s 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd paid taxes accordingly. The assessee claims that the relief/benefit available to him has not been claimed at the time of filing the Return on 31-12-2022 due to non-availability of SRO values. He further claimed that to avoid litigation and levy of possible penalties, he disclosed the above deemed income and paid the all applicable taxes. 8.1. It is pertinent to mention that the date of sale agreement was 08.11.2021, date of registration was 11.03.2022 and the date of filing of return is 31.12.2022. Assessee had an ample of time to claim the actual price in filing of return of income. The assessee is well aware of the rates prevailing on the date of agreement and as well as on the date of registration. Now, the assessee has come with an a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elhi-XIII MANU/DE/0747/2016 submits that even error committed by an Assessee can be a reason to exercise power under Section 264 of the Act. The power under Section 264 of the Act is wide enough to take care of such mistakes. This judgment was cited before respondent No.1, but, no heed is paid to the said judgment. So far second reason is concerned, it is submitted that the finding is perverse in nature, because, no material is quoted as to how the finding is recorded that petitioner s attempt was to take advantage of reduction in SRO values. No such document showing reduction in SRO values is referred. For these reasons, the impugned order may be interfered with. 7. Learned Standing Counsel for Income Tax Department supported the impugned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich he was over- assessed after the assessment was completed. Once it is found that there was a mistake in making an assessment, the Commissioner had power to correct it under s. 264(1). When the substantive law confers a benefit on the assessee under a statute, it cannot be taken away by the adjudicatory authority on mere technicalities. It is settled proposition of law that no tax can be levied or recovered without authority of law. Article 265 of the Constitution of India and section 114 of the State Constitution imposes an embargo on imposition and collection of tax if the same is without authority of law. ( Emphasis supplied ) 9. A plain reading of these paragraphs makes it clear that even if, an error is committed by an Assessee, it c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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