https://www.taxtmi.com/highlights?id=85357 HC allowed the writ petition challenging Commissioner's order under Section 264. Prior amendment of Return of Income was not mandatory before filing revision application. Commissioner failed to consider DTAA provisions and "make available" clause for determining royalty payments. Following Vijay Gupta and Interglobe Enterprises precedents, Court held that taxpayers can rectify earlier mistaken positions through Section 264, even for suo moto disallowances made under incorrect interpretation. Tax liability exists only for income chargeable under the Act. Commissioner directed to reconsider revision application examining DTAA implications and royalty characterization afresh, particularly the "make available" condition. en-us Fri, 31 Jan 2025 07:54:26 +0530 Fri, 31 Jan 2025 07:54:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=85357 HC allowed the writ petition challenging Commissioner's order under Section 264. Prior amendment of Return of Income was not mandatory before filing revision application. Commissioner failed to consider DTAA provisions and "make available" clause for determining royalty payments. Following Vijay Gupta and Interglobe Enterprises precedents, Court held that taxpayers can rectify earlier mistaken positions through Section 264, even for suo moto disallowances made under incorrect interpretation. Tax liability exists only for income chargeable under the Act. Commissioner directed to reconsider revision application examining DTAA implications and royalty characterization afresh, particularly the "make available" condition. Highlights Income Tax Fri, 31 Jan 2025 07:54:26 +0530 https://www.taxtmi.com/highlights?id=85357