TMI Blog2022 (3) TMI 890X X X X Extracts X X X X X X X X Extracts X X X X ..... cognizance of the two payments and rectify the order under perview of Section 11. Accordingly, AO is directed to rectify the order u/s 154 of the Act considering the genunity of transactions as discussed above. Apart from above, the assessee submitted that the AO did not allowed 15% deduction u/s.11(1)(a) of the Act while passing rectification order even though same was allowed while passing gi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the case is that the Ld. Assessing Officer (in brevity Ld AO) had passed order giving effect to the order of the Ld. CIT(A) in ITA No. 301/2012-13 dated 02.09.2013 related to assessment year 2010-11. The Ld. AO rectified his order dated 24.02.2014. But the Ld AO was not taking consideration, the following transactions of Trust related payment made to Angamuthu ₹ 9,50,000/-, purchasing we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t gave cognizance of this two payments. The Ld AO rejected the rectification petition as the matter was raised first time before him which is not under perview u/s. 154 of the Act. The observation of the Ld. AO in order dated 08.12.2014 bearing order no AAATM 4663P/2014-15 which read as follows: 4. At the outset, it may be noted that the matters raised by the assessee are not borne out from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve fresh determination of facts and statutory interpretation once again. In view of the above, I have no hesitation in holding that the Assessing Officer rightly rejected the petition filed u/s. 154 by the appellant. The appellant fails on this ground. 5. After receiving the order of the Ld. CIT(A), the assessee filed appeal petition before us. 6. The Counsel of the assessee filed paper bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sactions as discussed above. Apart from above, the assessee submitted that the AO did not allowed 15% deduction u/s. 11(1)(a) of the Act while passing rectification order even though same was allowed while passing giving effect. Therefore, we direct the Ld. AO to allow 15% as per section 11(1)(a) of the Act and compute income. 7. In the result, the appeal filed by the assessee is allowed for st ..... X X X X Extracts X X X X X X X X Extracts X X X X
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