Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (8) TMI 181 - AT - Income TaxRectification of mistake - application rejected - whether were there are two opinions, the rectification u/s 154 can be done? - as per assessee in column no.24 (Part B- computation of total income) has been left blank although information of exempted income has been shown in Schedule -F3(ii)/F3(ix) of the return - Held that:- It is a case of omission to claim exemption of income in the return of income, therefore, the case of the assessee does not fall in the definition of "incorrect claim" as is mentioned in Section 143(1)(a) of the Act read with its explanation. Further the assessee claimed that in Schedule-F-3(ix) though exempt income is mentioned but no claim is made in computation of total income could not be accepted because there is no authenticity of Schedule-F under the law because the computation of total income in Part-B shall be subjected to verification which assessee has verified to be correct income. When the assessee has verified the total taxable income at ₹ 3,41,73,652/- to be correct and complete, there is no question of making any withdrawal from such statement. Schedule-F is not subject to any verification therefore, as against unverified statement in Schedule-F, the preference to verified statement on oath shall have to be given precedents and preference. Therefore, the claim of the learned counsel for assessee that assessee made a claim of exempt income in Schedule-F cannot be accepted. The assessee has made claim in application under Section 154 of the I.T. Act that the taxable income of the assessee should be revised and the A.O. should hold that the entire income of the assessee to be exempt, however, the A.O. has no such power to make the claim of the assessee acceptable by making a long drawn process of reasoning. Since no claim of deduction of exempt income has been made in the return of income and A.O. accepted the return of income filed by assessee as it is, therefore, there was no mistake apparent on record of the Revenue Department. Thus, the rectification application under Section 154 was not maintainable - appeal of the assessee dismissed.
|