The HC held that even if an assessee commits an error, it can be examined u/s 264 of the Act, which has...

The High Court allowed the writ petition, setting aside the impugned order and remanding the matter to the revision authority for fresh consideration in accordance with the law. The Court held that the revision authority erred in rejecting the application under Section 264 of the Income Tax Act without considering the applicable SRO values on the dates of agreement and registration, as claimed by the assessee. The Court emphasized that the revision authority cannot decline consideration merely because the assessee made a mistake, highlighting the wide scope of Section 264. .....

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