Rectification u/s 154 - Treatment to interest incurred by the ...
Income Tax
March 16, 2022
Rectification u/s 154 - Treatment to interest incurred by the assessee - Had there been any evidence furnished along with the return of income with regard to completion of construction of the building and its readiness to let out, then the claim of the assessee could have been entertained in the rectification proceedings u/s. 154 of the Act by the revenue authorities. In the absence of any such evidence furnished, the CIT(Appeals) was justified in rejecting the claim of assessee. The issue raised by the assessee is a debatable issue which cannot be rectified in the proceedings u/s. 154 - AT
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