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2018 (9) TMI 76 - HC - Income TaxRevision u/s 263 - Rectification of mistake - taxability of salary - whether there was indeed any mistake in the Assessment Order and whether that justified exercise of powers by the Assessing Officer conferred vide Section 154 - prejudice caused to the Revenue as the AO not only brought to tax the Indian component, but the global component of the salary that was rectified - Held that:- Tribunal considered the factual and legal position and a judgment of the Hon'ble Supreme Court in the case of Pradip J. Mehta vs. Commissioner of Income Tax [2008 (4) TMI 6 - SUPREME COURT] and arrived at the conclusion that the amendment to Section 6 sub-section 6 clause(a) has been brought into effect from 1st April 2004. That was not applicable to the Assessment Year under consideration. The existing law was considered by the Hon'ble Supreme Court in the aforesaid judgment and the Hon'ble Supreme Court's judgment would bind the Assessing Officer. That part of the income earned outside India would have to be excluded and the assessee would have to be taxed to the extent of the income earned in India. That has admittedly been done. In such circumstances, there was no prejudice caused and this was not a fit case, therefore, to exercise the powers under Section 263 of the Income Tax Act - decided in favour of assessee
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