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TMI Blog2022 (1) TMI 1206X X X X Extracts X X X X X X X X Extracts X X X X ..... me from house property" " shall be computed after making the following deductions, namely:-(a) a sum equal to thirty per cent of the annual value;" Clear application of provision of income tax of sec. 24(a) is applied in the return, therefore, it is prayed to consider the same and allow the deduction. There is no restriction of status of assessee as per section 24(a). As per Section 22, "The annual value of property consisting of any buildings or lands appurtenant thereto of which the assessee is the owner, other than such portions of such property as he may occupy for the purposes of any business or profession carried on by him the profits of which, are chargeable to income-tax, shall be chargeable to income-tax under the head Income from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing 30% of the Income from House property of Rs. 42,03,600/-. 4. Aggrieved by the order of CPC, the assessee filed an online rectification application u/s 154 to the CPC on 25-03-2017, which was disposed of by the Deputy Commissioner of Income Tax CPC, Bangalore by issuing an order u/s 154 on 15-04-2017 by rejecting the claim of assessee saying that: "Dear Madam/Sir, Subject: Rejection of request for Rectification, Under Section 154 of the Income Tax Act, 1961-reg. Please refer to the rectification request filed by you for the Assessment Year:2015- 16 in respect of above mentioned order and received at Centralized Processing Center on 25/03/2017. "On Verification, it is seen that there is no prima facie error in the order which you ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his appeal before us. 7. This appeal was filed with a delay of 192 days with a request in the form of an affidavit to condone the delay, the affidavit submitted contains, as under: AFFIDAVIT Before Income Tax Tribunal, Ahmedabad Affidavit of Mr. Kamlesh Vadilal Mehta, S/o Late Shri Vadilal Keshavji Mehta, Chartered Accountant, having aged about 68 years resident of Idar. I, the above named deponent solemnly affirm and state as under in the case for the Assessment Year 2015-16, Appeal against the order u/s 154 has been filed late by 181 days and is going through Progressive Supra Nuclear Palsy and due to which was not able to file appeal in time. The order has been received on 22/06/2018 while appeal had to be filed by 22/08/2018 whil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m 78, where Hon'ble bench reversed the order of the Tribunal by observing as under: 10.1 As per the Income-tax Act, "income" means "net income", which is taxable. Income from property should be computed as per sections 22 to 27 of the Act and the income from business have to be computed under sections 28 and 44 of the Act. Such computed income is exempted from tax under sections 11 and 13, if 85% of the same is spent on the charitable objects. Once the income is computed and determined 85% of such computed income should be utilized for charitable objects. 13. In View of the above judgment and following the same we are of the view that, deduction u/s 24(a) is allowable to the assessee. Hence, the ground of appeal of the assessee is allowe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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