CIT has power to revise any orders including Sec 143(1):

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CIT has power to revise any orders including Sec 143(1):

 

Aafreen Fatima Fazal Abbas Sayed v. ACIT AND PCIT (Bombay High Court) WRIT PETITION (L) NO. 6096 OF 2021
Facts:
1. Assessee, in his return of income had erroneously offered to tax gains arising on sale of shares as short-term capital gains, instead of the same being offered as long term capital gains. 
2. After receiving the intimation U/S 143(1), the assessee filed a revision application with the Commissioner under section 264, the same was rejected on the ground that section 143(1) intimation was not an order and was not amenable to the revisionary jurisdiction under section 264. 
The Hon. Bombay HC held as below:
1. Article 265 of the Constitution of India and section 114 of the State Constitution imposes an embargo on imposition and collection of tax if the same is without authority of law. 
2. The Commissioner instead of merely examining whether the intimation was correct based on the material then available, should have examined the material already at the disposal of the AO, in the light of the Circular No.14(XL35) of 1955, dated April, 1955 and article 265 of the Constitution of India. 
3. Since section 264 uses the expression “any order”, it would imply that the section does not limit the power to correct errors committed by the subordinate authorities but could even be exercised where errors are committed by assessees.
4. The revision application under section 264 of the Act is restored to the file of the Commissioner. The Commissioner is directed to consider the same afresh on merits. 

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