TMI Blog1996 (12) TMI 29X X X X Extracts X X X X X X X X Extracts X X X X ..... 9, 1993, issued by the Deputy Commissioner of Income-tax, Assessment, Range-II, Guwahati, initiating proceedings under section 143(1)(a) of the Income-tax Act, 1961 (for short " the Act "), and annexure " IV " order dated June 10, 1993, issued by him in purported exercise of the power under section 154 of the Act refusing to rectify the mistakes so far as interest on deposit and interest on loan a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls of the depreciation allowable, additions made to the fixed assets during the year 1992, amounts disallowable under section 143B (sic) of the Act, etc. The first respondent, however, made prima facie adjustments in the purported exercise of the powers under section 143(1)(a) of the Act and added back certain income mentioned in paragraph 5 of the petition. The first respondent accordingly determ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 73,72,014. The petitioner submitted that from the break up it would be clear that the other income of Rs. 73,72,014 included the income which had been added back by the first respondent. Accordingly, the petitioner prayed before the first respondent to rectify the mistakes apparent on the face of the records and also to stay the tax demand of Rs. 60,59,651, till disposal of the petition under sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed counsel appearing on behalf of the Revenue. Dr. Saraf submits that the authority acted without jurisdiction adding the amount of interest on deposits and interest on loan, holding, inter alia, that those were not business income but income from other sources. Dr. Saraf submits that under section 143(1)(a), the Revenue was not competent to make the adjustment holding that the income derived fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l position. Therefore, I find that the addition of the amount was not justified. Accordingly, I set aside the impugned orders and the initiation of proceedings under section 143(1)(a) of the Act. However, it is open to the Department to take recourse to any other provision under the Act. The petition is disposed of. In the facts and circumstances of the case, I make no order as to costs. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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