https://www.taxtmi.com/caselaws?id=106013 Tax fixed under an option scheme may be revised where the assessing authority overlooked the municipality's upgradation and the original computation was therefore mistaken. The correction was confined to the effect of that upgradation alone, with the differential amount to be determined afresh after giving the taxpayer an opportunity of hearing. No interest or penalty could be imposed on the revised amount. The principle stated is that a genuine computational error based on an overlooked statutory or factual basis may be corrected, but only within the relevant ground and consistently with natural justice where civil consequences follow. en-us Mon, 24 Sep 2007 00:00:00 +0530 Sat, 24 Aug 2013 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106013 Tax fixed under an option scheme may be revised where the assessing authority overlooked the municipality's upgradation and the original computation was therefore mistaken. The correction was confined to the effect of that upgradation alone, with the differential amount to be determined afresh after giving the taxpayer an opportunity of hearing. No interest or penalty could be imposed on the revised amount. The principle stated is that a genuine computational error based on an overlooked statutory or factual basis may be corrected, but only within the relevant ground and consistently with natural justice where civil consequences follow. Case-Laws VAT and Sales Tax Mon, 24 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106013