Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2024 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (3) TMI 424 - ITAT RAIPURRectification u/s. 154 - claim of the assessee that the CPC, Bengaluru in the intimation issued u/s. 143(1) had wrongly taken its income under the head "Profit and gains from the business or profession" at Rs. 35,09,675/- instead of Rs. Nil and raised a consequential demand towards tax and interest(s) u/ss. 234B and 234C - HELD THAT:- Admittedly, the assessee firm had revised its return of income on 03.09.2011 declaring an income. As is discernible from record, the CPC, Bengaluru vide intimation u/s. 143(1) of the Act dated 24.02.2012 had accepted the income disclosed by the assessee firm in its revised return of income. Considering the fact that the assessee firm had itself filed its return of income (revised) declaring an income we are unable to comprehend as to on what basis the acceptance of the said returned income by CPC, Bengaluru could be held as suffering from a mistake apparent from record rendering the same amenable for rectification u/s. 154 of the Act. As observed by the CIT(Appeals), and rightly so, as intimation issued by the CPC, Bengaluru was based on the revised return of income filed by the assessee firm, and no adjustment had been carried out, therefore, the A.O in absence of any mistake apparent from record had rightly rejected its application u/s. 154 - Appeal of the assessee is dismissed
|