9911796707
TMI Blog2021 (12) TMI 1288X X X X Extracts X X X X X X X X Extracts X X X X ..... ptioned appeal filed by the assessee, pertaining to assessment year 2012-13, is directed against the order passed by the Learned Commissioner of Income Tax (Appeals), which in turn arises out of an assessment order passed by the Assessing Officer u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred to as the 'Act') dated 30.01.2015. 2. Grounds of appeal raised by the assessee are as follo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proportionate expenses out of the interest income, whereas, entire income of the appellant is shown and assessed as business income." 4. At the outset ld Counsel submits that assessee has raised the additional ground on the legal issue challenging the disallowance of Rs. 1,44,99,847/-, which was never claimed by the assessee, however, assessing officer made disallowance of Rs. 1,44,99,847/-,which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the assessee. 5. Learned Counsel submits that assessee has not claimed deduction to the tune of Rs. 1,44,99,847/-, despite of this assessing officer has made disallowance of Rs. 1,44,99,847/-. However, ld DR states that the said issue should be verified by the assessing officer whether assessee has claimed the deduction to the tune of Rs. 1,44,99,847/-. We note that as per Ld Counsel, the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amounting to Rs. 1,44,99,847/- which was not claimed by the assessee but disallowed by the assessing officer. Therefore, we remit this issue back to the file of the assessing officer to examine whether assessee has claimed the deduction to the tune of Rs. 1,44,99,847/- or not? If the assessing officer finds that assessee has not claimed deduction for Rs. 1,44,99,847/-, then in that situation the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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