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TMI Blog2017 (5) TMI 154X X X X Extracts X X X X X X X X Extracts X X X X ..... learned Assessing Officer (Hereinafter called " the AO" ) u/s 154 of Income-tax Act,1961 (Hereinafter called "the Act"). 2. The grounds of appeal raised by the assessee in memo of appeal filed with the Income-Tax Appellate Tribunal, Mumbai (hereinafter called "the Tribunal") read as under:- "1) The Learned CIT(A) 39 both on facts and in law has erred in confirming the action of the Assessing Officer in passing an order u/s. 154 of the I. T. Act, 1961, without properly appreciating the facts of the case. 2) The appellant craves leave to add, amend, alter and or vary any of the grounds at the time or before the hearing of this appeal. 3) The appellant therefore prays that order passed by the Assessing Officer u/s. 154 may please be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsidered by AO . On being asked to submit proof of submitting detailed reply , the assessee could not produce the same before learned CIT(A). It was also submitted by the assessee before learned CIT(A) that sufficient opportunity was not granted to the assessee by the A.O. and, hence, one more opportunity may be granted through remand proceedings. It was submitted that while preparing Form 3CD tax-audit report, certain errors had crept in which was committed by tax-auditor. It was submitted that instead of mentioning interest paid to Canara Bank on secured loan, the same has been typed as "interest on Escrow account Rs. 1,18,26,880 / - in Column 17(f)", being "amounts inadmissible under s. 40(a)". In support, the assessee produced photocopy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee by learned CIT(A) by remanding the matter to AO for seeking remand report , the matter can be set aside to the file of the A.O. for de-novo adjudication of the issues on merits. 8. We have heard the learned D.R. and perused the material available on record. We have observed that the A.O. invoked provisions of section 154 of the 1961 Act vide notice dated 19th March, 2012 to correct the mistake apparent from record in the assessment order dated 24.12.2010 passed u/s 143(3) of the Act , wherein two additions had been made u/s 40(a) and 40A(3) of the Act aggregating to Rs. 1,19,40,598/- vide rectification order dated 04- 05-2012 passed u/s 154 of 1961 Act by the AO which was confirmed by learned CIT(A) . The A.O. as well as ld. CIT(A) wh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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