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2023 (2) TMI 34 - HC - Income TaxRevision u/s 264 - Addition of income twice - seeking refund with interest - HELD THAT:- Section 264 of Act enables the Principal Commissioner or Commissioner, on its own motion or on an application made by the assessee, to call for records of any proceedings under the Act or to cause such inquiry to be made and, subject to the provisions of the Act, pass such order thereon as the Commissioner thinks fit. The only condition being that such order cannot be prejudicial to the assessee. Undisputedly, if the records for the AY 2014-15 are recalled, it would reveal that the sum received on account of interest on income tax, was assessed as income for the Previous Year 2013-14 relevant to the Assessment Year 2014-15. However, as stated above, the said amount was brought to tax by the Income Tax Authority in the Assessment Year 2012-13. Clearly, the same amount cannot be taxed twice over. It is settled law that an assessee is liable to pay income tax only on the income that is chargeable under the Act. Merely because an assessee has offered a receipt of income in his return does not necessarily make him liable to pay tax on the said receipt, if otherwise the said income is not chargeable to tax. In CIT v. Shelly Products [2003 (5) TMI 4 - SUPREME COURT] the Supreme Court held that if the assessee had, by mistake or inadvertently, included his income or any amount, which was otherwise not chargeable to tax under the Act, the Assessing Officer was required to grant the assessee necessary relief and refund any tax paid in excess. As also well settled that the powers conferred under Section 264 are wide. In Vijay Gupta v. Commissioner of Income Tax Delhi-XIII & Anr [2016 (3) TMI 977 - DELHI HIGH COURT] a Co-ordinate Bench of this Court held that powers under Section 264 of the Act were not limited to correcting any errors committed by the authorities but also extended to errors committed by the assessee. Amount cannot be taxed twice. As apposite for the Commissioner to have revised the assessment order for the Assessment Year 2014-15 in light of the reassessment order dated 08.12.2017, whereby the amount was brought to tax in an earlier Assessment Year (Assessment Year 2012-13).
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