Smita Rohit Gupta v. PCIT (2023)459 ITR 369 / (2024) 158 157 (Bom)(HC)

S. 264 : Commissioner-Revision of other orders-Taxability of amount declared under Income Declaration Scheme-Rejection Of Application is not valid. [Finance Act, 2016 (2016) 384 ITR 1, 87 (St) (2019) 416 ITR 1(St), S.183, to 188 Art. 226]

Held, that  admittedly the amount payable under the Income Declaration Scheme, 2016 had been paid. Section 188 of the Finance Act, 2016, provides that the amount of undisclosed income declared in accordance with section 183 shall not be included in the total income of the declarant for any assessment year under the Income-tax Act, 1961 if the declarant makes the payment of tax and surcharge referred to in section 184 and the penalty referred to in section 185, by the date specified under sub-section (1) of section 187. The assessee having paid the tax and surcharge and the penalty with interest, the undisclosed income could not be included in the income of the assessee. The Commissioner should have exercised his power under section 264 of the 1961 Act and decided the matter on the merits. The order rejecting the application for revision was not valid.