TMI Blog2013 (10) TMI 320X X X X Extracts X X X X X X X X Extracts X X X X ..... capital to Rs. 31,000/- as against Rs. 1,96,231/- claimed by the assessee, on the basis of the revised computation of income filed by the assessee. The difference of the amount has been added by the authority which cannot be said to be a mistake on the face of record. The Commissioner of Income Tax has rightly passed orders under section 264 as well as under section 154 of the Act as the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as order dated 27.11.2006, passed by the Commissioner of Income Tax-II, Lucknow under section 264 of the Income Tax Act, as contained in Annexures No. 1 7 to the writ petition. The factual matrix of the case are that the Assessee M/s. Devki Nandan (H.U.F.) borrows funds bearing interest. The Assessee was being allowed necessary deductions in respect of payments of interest at the specified ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t error in the assessment order, passed under section 264 of the Act. No documentary evidence was led by the assessee before the revisional authority but subsequently while moving the application under section 154 of the Act, certain documentary evidence as well as additional evidence was led by the petitioner. Section 154 of the Act provides rectification of the mistake in the order so passed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... When this writ petition was taken up for hearing, neither learned Counsel for the petitioner is present nor any engagement slip has been sent on his behalf for adjournment of the case. We have heard Sri D. D. Chopra, learned Senior Standing Counsel, appearing for Income Tax Department and perused the record. As the matter is old, we proceed to dispose of the writ petition finally. From pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wed capital. The law requires that assessee has to furnish necessary proof of actual payments of interest to the borrowers. Having considered the matter in all, its pros and cons, we are of the view that the impugned orders do not suffer from any illegality or infirmity. Moreover, the finding recorded in the impugned order cannot be said to be perverse. The writ petition being devoid of merit is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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