2023 (9) TMI 159

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....er, an individual, filed return of income for Assessment Year 2013-2014 on 28th March 2015 declaring total income of Rs. 12,48,160/-. While filing the ITR form, petitioner mistook the assessment year to be financial year and all the details of income for Assessment Year 2014-2015 were filled in the return of income for Assessment Year 2013-2014. 3. Respondent no. 3 then issued intimation under Section 143(1) of the Act on 17th October 2015 raising a demand for tax payable for Rs. 3,06,080/- after processing the return of income accepting the incorrect details declared by petitioner. In the course of processing, respondent no. 3 did not grant credit of petitioner's legitimate tax credit in respect of tax deducted by one of its two employe....

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....turn has been filed under sub-section 1 of Section 139 and petitioner having filed his return under sub-section 4 of Section 139, petitioner had no choice but to file the application for revision under Section 264 of the Act. This application of petitioner came to be rejected by an order dated 27th March 2017. It came to be rejected only on the ground that intimation under Section 143(1) is not an order and, therefore, prayer made by petitioner in the petition cannot be accepted as revision application under Section 264 was not applicable. Thereafter, petitioner filed an application under Section 154 of the Act to rectify this order dated 27th March 2017 passed in the application under Section 264 of the Act. That application of petitioner ....

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....turbed and hence, the new revised figures cannot be considered. According to respondent no. 1, income of an assessee is dependent on the sources he has, head under which it is assessed, special rate, applicable if any, etc. Determination of income of any assessee is an exercise which involves deep scrutiny and cannot be merely substituted by acceptance of the income figure claimed by the assessee. Respondent no. 1 says determination of total income of the assessee cannot be the mandate of Section 264. 7. The Delhi High Court in Vijay Gupta V/s. Commissioner of Income Tax, Delhi - III (2016) 68 taxmann.com 131 (Delhi) has, in paragraph 35, held as under : 35. From the various judicial pronouncements, it is settled that the powers....