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2007 (9) TMI 271 - HC - FEMAPrima facie adjustment – consideration of notes filed alongwith the return – CBDT circular dated 24-8-1994 - held that - it is clear that the assessee had returned Rs.12,000/- as income from the property at Arulambal Street; yet, the details filed along with the return clearly showed that the assessee was in self-occupation of the property owned by him situate at Arulambal Street. Hence, there was nil income. If at all any income is received from the property, it is only from the one taken on lease at Mount Road. Hence, in the background of the circular of the Central Board of Direct Taxes and the provisions of Section 143(1)(a) itself providing for taking note of the documents/statements, the statement accompanying the return thus disclosing the facts fully, the income shown could only relate to the one from the property taken on lease, the documents accompanying the return ought to have been adverted to by the Income Tax Officer before passing any order under Section 143(1)(a) to make prima facie adjustment.
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