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2016 (9) TMI 1003 - AT - Income TaxRectification application u/s. 154 - Held that:- There is no dispute that the impugned assessment year is the first year of filing electronic return. The Central Board of Direct Taxes has also issued a circular no. 6/2008 dated 18-07-2008 advising the assessees to retain with themselves all annexures relating to computation of income, TDS/TCS certificates, challans, counterfoils relating to advance and self assessment taxes and audit report to be produced as and when called by the Assessing Officer. We repeat that neither there is any such call or intimation of processing forthcoming from the case file. Both the lower authorities are fair enough in not specifically rejecting assessee’s plea of having incorporated an incorrect figure of ₹ 3,33,426/- as extracted from her rectification petition. We come to pages 10 to 13 of the paper book stating gross total income of ₹ 35,62,254/- along with nil tax payable, purchases of ₹ 3,33,426/-, profits before taxes of ₹ 34,87,179/- and aggregate income of ₹ 1,38,790/-; respectively. Her P & L account at page 33 of the case file reveals purchase figures of ₹ 35,33,426/- resulting in net profits of ₹ 1,64,716.75/-. These figures are based on duly audited books. There is no issue before us on correctness thereof. We observe in totality of all these facts that the only option before this assessee was to file for the impugned rectification u/s. 154 of the act in view of the correct figures given in her P & L account and books which were retained as per the Board’s circular hereinabove (supra).
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