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2013 (12) TMI 768 - AT - Income TaxAs per section 143(1) - denial of exemption u/s 54F while processing rectification application u/s 154 for claim of TDS - adjustments for any arithmetical error in the return or incorrect claim u/s 141(1) - Held that: - It is clear that what is possible to adjust is only any arithmetical mistake or any incorrect claim patent on the face of the return - In the present case, there was no question of any arithmetical error - Assessing Officer held that the capital gain was not exempt from levy of tax - The debatable issues like exmption u/s 54F are not to be considered - The Assessing Officer has overstepped his authority to deny the exemption claim of the assessee made under Section 54F in the present case, beyond the jurisdiction of Section 143(1)(a) We cannot just ignore the anxiety of the Assessing Officer in the matter of exemption under Section 54F. But, the only thing is that such an enquiry is not possible on the petition filed by the assessee under Section 154. - Decided in favour of assessee.
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