Revenue cannot take advantage of mistake/ignorance of the assessee: Claim for housing loan interest and principal and Mediclaim u/s 24(b), 80C and 80D can be made vide rectification u/s154

Revenue cannot take advantage of mistake/ignorance of the assessee: Claim for housing loan interest and principal and Mediclaim u/s 24(b), 80C and 80D can be made vide rectification u/s154 https://www.taxtmi.com/article/detailed?id=12083 Rectification under section 154 can be invoked to admit belated claims for housing loan interest and principal and Mediclaim deductions omitted from the return when the assessee produces supporting documents. Tax officers must not take advantage of an assessee's ignorance and are duty bound to assist in claiming reliefs, per CBDT Circular No.14 of 1955. ITAT Kolkata applied rectification in Shri Sandip Chattopadhyay, and the principle that appellate authorities may allow unclaimed deductions if relevant documents are furnished was affirmed in Goetze (India) Ltd. en-us Thu, 30 Nov 2023 10:18:53 +0530 Thu, 30 Nov 2023 10:18:53 +0530 TaxTMI RSS Generator Revenue cannot take advantage of mistake/ignorance of the assessee: Claim for housing loan interest and principal and Mediclaim u/s 24(b), 80C and 80D can be made vide rectification u/s154 https://www.taxtmi.com/article/detailed?id=12083 Rectification under section 154 can be invoked to admit belated claims for housing loan interest and principal and Mediclaim deductions omitted from the return when the assessee produces supporting documents. Tax officers must not take advantage of an assessee's ignorance and are duty bound to assist in claiming reliefs, per CBDT Circular No.14 of 1955. ITAT Kolkata applied rectification in Shri Sandip Chattopadhyay, and the principle that appellate authorities may allow unclaimed deductions if relevant documents are furnished was affirmed in Goetze (India) Ltd. Articles Income Tax Thu, 30 Nov 2023 10:18:53 +0530 https://www.taxtmi.com/article/detailed?id=12083