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2021 (4) TMI 1003 - AT - Income TaxDisallowance of dividend income as exempt in “Schedule BP” relating to computation of business income - inadvertent error committed by the assessee while filling up the return of income filed through electronic mode - details of exempt income were mentioned in the schedule EI of the return of income - HELD THAT:- An identical issue was examined by the Mumbai bench of Tribunal in the case of Suman Chandra G. Mehta [2013 (12) TMI 358 - ITAT MUMBAI] The facts in the present case are identical. The assessee, out of ignorance or inadvertence has omitted to mention the details of exempt income in the relevant “Schedule EI”. So, the ignorance of the assessee or inadvertent mistake committed by the assessee should not come in his way in claiming exemption, which is otherwise allowable under the Act. It is also not a case that the assessee did not respond to the notice issued by CPC. The assessee has duly responded to the same, but it is the submission of revenue that the assessee should have filed a revised return of income. There is no dispute with regard to the fact that the assessee is entitled for exemption of dividend income. The object of assessment is to determine correct total income of the assessee. Accordingly, I am of the view that the right of the assessee could not be denied merely on accounting of technical errors. Hence there is a mistake apparent from record in not granting exemption claimed by the assessee. Accordingly, the said mistake deserves to be rectified. We set aside the order passed by Ld. CIT(A) on this issue and direct the A.O. to allow the exemption claimed by the assessee.
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