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2024 (1) TMI 293 - ITAT AHMEDABADRevision u/s 263 - Claim of deduction u/s 57(iii) - Assessee claiming 10% deduction against income from other sources - HELD THAT:- Firstly, this issue was examined by the Assessing Officer during the course of assessment proceedings and therefore, it is not the allegation of the Department that the Ld. AO had failed to apply his mind to the issue under consideration. Secondly, it is also an admitted fact that the assessee has been consistently following the practice of claiming 10% deduction against income from other sources on a consistent basis for A.Y. 1994-95 onwards. This fact is also not in dispute. Thirdly, similar claim has been allowed to the assessee in the past assessment year after carrying out due verification by the concerned Assessing Officers during the course of assessment proceedings. Assessee has produced before us copies of assessment orders passed by Assessing Officers for various assessment years (From A.Ys. 2008-09 to A.Ys. 2014-15), wherein for several years this issue had been examined by the Assessing Officer and claim of deduction was allowed to the assessee under Section 57(iii) of the Act. Fourthly, on identical set of facts, in the case of [2016 (10) TMI 1351 - ITAT AHMEDABAD] has allowed this issue in favour of the assessee. Since this stand taken by the assessee with respect to claiming 10% deduction against income from other sources have been accepted by the Department in the past years, looking into the facts of the instant case, we are of the considered view that the order passed by the Assessing Officer cannot be held to be erroneous and prejudicial to the interest of the Revenue under Section 263 of the Act - Appeal of assessee allowed.
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