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2024 (1) TMI 358 - AT - Income TaxDeduction u/s 80P - deduction claimed by the assessee was denied in the intimation generated u/s 143(1) on the reasoning that the relevant columns in the return of income tax were not properly filed up - assessee against such denial of its claim filed rectification application u/s 154 which was also denied in the order passed u/s 154 - HELD THAT:- It is the settled position of law that the income has to be computed by the assessee as per the provision of Act. To our understanding, if there is any mistake on the part of the assessee for claiming the legitimate deduction, it is the onus upon the revenue to rectify the same. As such the revenue cannot take the shelter of the ignorance of the assessee by denying the legitimate benefit to the assessee. CIT(A), was bound to follow the verdict of Esar Coste [2004 (12) TMI 62 - GUJARAT HIGH COURT] In the event of noncompliance of Hon’ble Jurisdictional High Court, it amounts to a mistake apparent from the record and therefore the same can be rectified u/s 154 of the Act. None of the authorities below has gone to verify the genuineness of the claim of the assessee whether it was within the provision of law. Thus, for the limited purpose, we are delegating the issue to the file of the AO for fresh adjudication to the extent to find out whether the interest in dispute has been earned from the co-operative society and from other sources. As such, the AO shall verify the deduction claimed by the assessee within the provisions of section 80P(d)/80P2(c)(ii) of the Act. Hence, the ground of appeal of the assessee is allowed for the statistical purposes.
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