2014 (5) TMI 449

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..... cededly attached to the return." 3. The relevant facts are that the assessee reported a total income of Rs.34.56 lakhs for AY 2008-09. The income tax payable including surcharge and education cess was Rs.1,16,950/-. In the computation of income, the assessee failed to disclose the STT paid to the tune of Rs.18,93,867/-. Instead of disclosing it as STT paid, the amount was erroneously mentioned as TDS. The AO rejected the assessee's application, in the form of letter of 22.11.2012, whereby the assessee requested rectification of the intimation. The AO's order of 16.1.2013 was unsuccessfully appealed. The assessee further appealed to the ITAT which rejected its contentions, by the impugned order. The ITAT was of the opinion that the assessee .....

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..... ve already mentioned that for the purpose of Section 88E, mere payment of STT would not entitle the assessee to claim the rebate. The assessee would be entitled to rebate only if the total income of the assessee included the income arising from the taxable securities transactions. In the return of income, the assessee himself has mentioned the income arising from transactions chargeable to securities transaction tax to be nil. In the computation of income also, there is no mention about any such income. The assessee has claimed to have furnished the certificate of STT collected by Adroit Financial Services Pvt. Ltd. However, the certificate only mentions the transaction entered into by the assessee but it nowhere mentions the income arising .....

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..... elating to an order referred to in sub-section (1), the authority passing such order may, notwithstanding anything contained in any law for the time being in force, amend the order under that sub-section in relation to any matter other than the matter which has been so considered and decided.] (2) Subject to the other provisions of this section, the authority concerned- (a) may make an amendment under sub-section (1) of its own motion, and (b) shall make such amendment for rectifying any such mistake which has been brought to its notice by the assessee, and where the authority concerned is the [***] [Commissioner (Appeals)], by the [Assessing] Officer also." It is apparent from the bare reading of the above provision that the power of r .....

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