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2020 (12) TMI 603 - AT - Income TaxRectification of mistake u/s 154 - income from business has been offered to tax by the appellant during assessment proceedings as per the working filed by the appellant during assessment proceedings which does not include income from other sources mainly on account of bank FDR interest - HELD THAT:- It is pertinent to note that the assessee agreed for Business income from contract receipts at ₹ 1.46 crores, which was independent of income from bank interest at ₹ 22.54 lakhs that was declared by the assessee under the head Income of other sources. Assessing Officer in the assessment order inadvertently adopted Business income of ₹ 1.46 Crores as Total income, which had the effect of excluding Income from other sources at ₹ 22.54 lakhs, which was independently offered by the assessee in its return of income and was not a subject matter of any dispute. It is this mistake which the AO rectified in the current proceedings u/s.154 of the Act by also including Income from other sources amounting to ₹ 22.54 lakhs in the total income, which was earlier omitted to be included in the original assessment order. In our considered opinion, it is a clear-cut case of the AO carrying out rectification of a glaring and patent mistake committed in the original assessment order. By no standard, it can be construed as a debatable point amenable to two views. We, therefore, uphold the impugned order. Appeal of the assessee is dismissed.
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