Often taxpayers omit or miss out reliefs or benefits available to them under the law and sometimes they even miss the revision of return time lines. To those there is a remedy available under section 264.
Vide  443 ITR 168 (Bom) the revenue is prevented from taking benefits from inadvertent mistakes committed by the assessee who therefore has a right to present them to the Commissioner in application u/s 264 even post assessment within 12 months of the date of communication of the order. The fee for such application is INR 500.
In this case the assessee inadvertently failed to make claim of relief/refund available under DTAA.
In holding that the Commissioner held the power to consider such claim under section 264 the Court further emphasised that section 264 does not limit the power of the Commissioner to correct errors committed by the subordinate authorities but such power can even be exercised where errors are committed by the assessee.