TMI Blog2022 (9) TMI 37X X X X Extracts X X X X X X X X Extracts X X X X ..... ings, the assessee has brought to the notice of the Assessing Officer that the cost of acquisition of property sold was wrongly adopted in the return of income filed for the assessment year 2016-17 which resulted in capital gains. Since the Assessing Officer has not heed to the plea of the assessee and rejected the claim to modify the deduction since the assessee has not filed revised return under section 139(5) by following the decision of the Hon ble Supreme Court in the case of Goetze (India) Ltd. [ 2006 (3) TMI 75 - SUPREME COURT] the Assessing Officer rejected the claim of the assessee. On appeal, while dismissing the appeal of the assessee, the ld. CIT(A) has observed that the issue is not amenable to section 154 of the Act, an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n short] dated 30.12.2018 by assessing total income of the assessee at ₹.46,43,569/- after making various additions. 3. Thereafter, the assessee filed a petition under section 154 of the Act dated 01.01.2019, wherein, it was stated that the cost of acquisition of property sold was wrongly adopted in the return filed for the assessment year 2016-17at ₹.10 lakhs instead of ₹.21,12,000/-, which resulted in capital gains being offered at ₹.4,44,221/-, which fact was brought to the notice of the Assessing Officer during the course of scrutiny proceedings and the same was not considered by the Assessing Officer. After considering the submissions of the assessee, the Assessing Officer has concluded that the assessee has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of income filed for the assessment year 2016-17 at ₹.10 lakhs instead of ₹.21,12,000/-, which resulted in capital gains being offered at ₹.4,44,221/-. Since the Assessing Officer has not heed to the plea of the assessee and rejected the claim to modify the deduction since the assessee has not filed revised return under section 139(5) of the Act, by following the decision of the Hon ble Supreme Court in the case of Goetze (India) Ltd. v. CIT 284 ITR 323 (SC), the Assessing Officer rejected the claim of the assessee. On appeal, while dismissing the appeal of the assessee, the ld. CIT(A) has observed that the issue is not amenable to section 154 of the Act, and if at all, the issue should have been challenged by the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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