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2023 (10) TMI 700 - AT - Income TaxRectification u/s 154 - During filing in audit report in Form No. 10 amounts are interchanged, and the form was filed with mentioning the wrong amount by mistake - demand in intimation u/s 143(1) - accumulation of income u/s 11(2) restricted - computing the total income of the appellant institution more as against NIL returned income on the reasoning that the accumulation of income u/s 11(2) has correctly been allowed instead of amount as claimed by the appellant - HELD THAT:- The issue is well settled, and the ld. DR has also accepted that the mistake occurred only in the audit report and the claim of the assessee is genuine. The ld. AR invited our attention in ITR 7 where it is mentioned that the correct figures in claim of section 11(1)(2) of the Act. The assessee submitted the Form No. 10 and modified Form where the rectification was done by the auditor. It is very clear that there is no mistake in the return of income but mistake was occurred in the audit report which was duly rectified by the said auditor. Accordingly we accept that the said mistake is apparent from the record which has covered u/s 154 of the Act. The ld. DR was not able to submit any contrary judgment or fact against the assessee’s submission. Accordingly, we accept the ground of the assessee and sent back the matter to the file of the ld. AO with direction, the ld. AO rectified the intimation u/s 143(1) and pass the order accordingly. Assessee appeal allowed.
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