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2022 (3) TMI 890 - AT - Income TaxRectification of mistake u/s 154 - Exemption u/s 11 - HELD THAT:- In this stage it is not possible for verification of the payments, made by the assessee. The matter is returned back to the Assessing Officer to take cognizance of the two payments and rectify the order under perview of Section 11. Accordingly, AO is directed to rectify the order u/s 154 of the Act considering the genunity of transactions as discussed above. Apart from above, the assessee submitted that the AO did not allowed 15% deduction u/s.11(1)(a) of the Act while passing rectification order even though same was allowed while passing giving effect. Therefore, we direct the Ld. AO to allow 15% as per section 11(1)(a) of the Act and compute income. Appeal filed by the assessee is allowed for statistical purposes.
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