Section 264 Revision petition maintainable against Section 143(1) intimation

M/s. EPCOS Electronic Components S. A. Vs Union of India (Delhi High Court)

The next issue is whether the intimation under Section 143(1) of the Act was prejudicial to the interest of the Assessee. It must be noted here that although the tax calculated as payable in the return filed and accepted by the Department by sending intimation under Section 143(1) of the Act is nil, it cannot be said that no prejudice is caused to the Assessee thereby. The Assessee has voluntarily paid tax at the rate of 20% in terms of the Indo Spain DTAA as tax on FTS and the

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