Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (8) TMI 788 - AT - Income TaxRectification of mistake u/s 154 - income under the head of House Property Income - Action of the AO in not giving the benefit made by the AO on account of interest paid on house loan and erred in sustaining the addition on account of house property which is allowable as per law - HELD THAT:- From the order of the ld. CIT(A), it appears that the ld. CIT(A) has not taken into consideration the entire submission of the assessee but observed ‘’that the appellant has also not filed the copy of Home Loan Interest Certificate to allow. In the absence of claim in the return filed and non-submission of evidence during the appeal proceedings, the relief cannot be granted. Hence, the appeal is dismissed.’’ Further the order of the ld. CIT(A) does not indicate that he has asked for the copy of such home loan interest certificate as well as other evidences to settle the issue in dispute. However, the assessee has very explicitly filed the details as to the calculation in the income tax return as well as income from house property. At both the places, the income chargeable under the head ‘House Property’’ holds good similar amount of Rs.1,37,444/-. Hence, there is no question of confirming the disallowance of interest paid on house property amounting to Rs.1,56,556/-. Keeping in view the above facts, circumstances of the case, computation of ITR, salary certificate issued by Bank of Baroda and house property income shown at Rs.1,37,444 in the ITR Form of the assessee as well as the Certificate dated 26-04-2021 issued by the Manager (Credit) Bank of Baroda, Jaipur as to the payment of Rs.1,56,556/- against the loan taken by the assessee from the Bank support the contention of the assessee. Hence, we do not concur with the findings of the ld. CIT(A) which is reversed. Thus the Ground No. 1 and 2 of the assessee is allowed.
|