Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (6) TMI 1118 - AT - Income TaxRectification of mistake - mistake in filling item No.43, which was taken into account by processing the return and the income of the assessee was processed at nil in place of a loss of ₹ 20,37,162/- - Held that:- The mistake, as is claimed by the assessee to be apparent from the record would fall within sub-clause (i) of clause (a) of the Explanation as the figure of “nil” stated against column No.43 would be inconsistent with the other entries of the same or some other items in the same very return. Therefore, Ld. CIT(A) was wrong in holding that assessee is not entitled to get the impugned mistake rectified. The adjustment sought for by the assessee in the rectification application would be in accordance with the provisions of section 143(1) and is an inadvertent mistake which is rectifiable under the provisions of section 154 of the Act. Accordingly, we hold that there is a mistake apparent from record which is required to be rectified. We direct the AO as well as Computerized Processing Center to rectify the mistake and accept the application filed by the assessee under the provisions of section 154 of the Act.
|