https://www.taxtmi.com/caselaws?id=765435 Section 264 revision is not barred merely because the assessee did not first file a revised return; the revisional power is wide enough to correct an assessee's own mistaken tax position where the item was not chargeable to tax in law. The Court held that refusal on the sole ground of no revised return was unsustainable. It also held that taxability could not be sustained on domestic law alone when the assessee invoked Article 12 of the India-Australia DTAA, including the "make available" requirement, and that treaty provisions had to be examined before treating the remittance as taxable. The writ petition was allowed, the impugned order was quashed, and the revision was remitted for fresh consideration. en-us Thu, 23 Jan 2025 00:00:00 +0530 Fri, 31 Jan 2025 07:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765435 Section 264 revision is not barred merely because the assessee did not first file a revised return; the revisional power is wide enough to correct an assessee's own mistaken tax position where the item was not chargeable to tax in law. The Court held that refusal on the sole ground of no revised return was unsustainable. It also held that taxability could not be sustained on domestic law alone when the assessee invoked Article 12 of the India-Australia DTAA, including the "make available" requirement, and that treaty provisions had to be examined before treating the remittance as taxable. The writ petition was allowed, the impugned order was quashed, and the revision was remitted for fresh consideration. Case-Laws Income Tax Thu, 23 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765435