TMI Blog2013 (10) TMI 697X X X X Extracts X X X X X X X X Extracts X X X X ..... ,81,116/-, addition in computation of income will be made at Rs.29,51,17,988/- (Rs.44,,76,99,661/- - Rs.15,25,81,875/- - Held that:- Since the Assessing Officer started his computation in the assessment order from the profit as per P&L Account, therefore, the claim of the assessee made in the computation of income amounting to Rs.34,59,78,545/- remained unadjusted. The Assessing Officer in the original assessment order did not give credit for claim of this amount as he started for making computation of income by taking first figure as per P&L Account. Had assessee claimed full claim in P&L Account, the assessed income of the assessee would have been lower by the same amount – Decided in favor of Assessee. - I.T.A. No. 5001/Del/2010 - - - D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /-, the assessee had debited 50% of same amounting to Rs.34,59,75,545/- in P L A/c and balance 50% was shown in the balance sheet under the head Unexpired Benefit Accrual Account. while preparing computation of income, the assessee had claimed amount of Rs.34,59,78,545/- also which was shown in the balance sheet under the Unexpired Benefit Accrual Account. The Assessing Officer completed the assessment u/s 143(3) and allowed expenditure of onl Rs.15,25,81,673/- being 3% of total amount mobilized by the assessee and therefore computed disallowance of Rs.64,10,96,533/-. The Assessing Officer, however, while computing the assessed income of the assessee started with the net profit as per P L A/c in which a sum of Rs.34,59,78,545/- was debited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T(Central), Lucknow or CIT (Central), Kanpur for issue of necessary directions to the concerned Assessing Officer." Therefore, the assessee filed application before Assessing Officer us/ 154 of the Act seeking rectification of appeal effect order dated 30.3.1999. The Assessing Officer passed the impugned order u/s 154 of the Act rejecting the above rectification application filed by the assessee. On appeal against the said order u/s 154, the Ld CIT(A) passed order thereby giving certain directions to the Assessing Officer to modify the appeal effect order dated 30.3.1999. Against the order of Ld CIT(A) the Department filed appeal before ITAT and the matter was set aside to the file of Assessing Officer with the direction to pass speaking ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der dated 15.3.1999 were read and similarly para 63 at page 133 was read. Similarly our attention was invited to computation of income placed at paper book page 2 3 and it was brought to our notice that the assessee had claimed an amount of Rs.34,59,78,545/- only in the computation of income which was not considered by the Assessing Officer while giving appeal effect to the original appellate order. 6. The Ld DR in his rejoinder submitted that Ld CIT(A) clearly states that there is no mistake in the order and therefore Ld CIT(A) has wrongly given the relief. 7. We have heard the rival submissions of both the parties and have gone through the material available on record. We find that dispute arose between the parties because of the fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessing Officer did not disallow the full disallowance of Rs.64,10,96,533/- but instead disallowed only Rs.29,51,17,988/- i.e. after excluding Rs.34,59,75,545/.- being the amount claimed in the computation of income. On appeal, the Ld CIT(A) allowed the appeal of assessee and deleted the disallowance of Rs.29,51,17,988/-. Therefore, in assessment order whatever amount was disallowed was allowed by Ld CIT(A) but since the Assessing Officer started his computation in the assessment order from the profit as per P L Account, therefore, the claim of the assessee made in the computation of income amounting to Rs.34,59,78,545/- remained unadjusted. The Assessing Officer in the original assessment order did not give credit for claim of this amount ..... X X X X Extracts X X X X X X X X Extracts X X X X
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