1997 (3) TMI 140

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....e for rectification dt.10th Oct., 1991, wherein it was proposed to rectify the intimation on the ground that Rs. 33,82,334 had been claimed as deduction without attaching any evidence relating thereto. The assessee explained that interest on money borrowed from IFCI was paid in Sept., 1990, before filing the return. The assessee also relied on the decisions of the Hon'ble Delhi High Court in the case of Modi Cement Ltd. vs. Union of India (1991) 100 CTR (Del) 48 and SRF Charitable Trust vs. Union of India & Ors. (1991) 100 CTR (Del) 160. The assessee, therefore, requested the AO not to make any rectification order under s. 154. However, the AO did not accept the plea of the assessee and made the rectification order under s. 154. 2.1 On fir....

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....tion of the assessee to the fact that a certificate from an accountant in this regard would be a sufficient condition for agreeing with the contention of the assessee. She also observed that the impugned order was made in the year 1991 and the circular clarifying the position as to the nature of evidence required for obtaining the benefit of deduction under s. 43B was dt.4th June, 1991. She also observed that the AO could have referred to the said circular before passing order under s. 154. In the circumstances she accepted the plea of the assessee. The Department is aggrieved. 3. The learned Departmental Representative Shri Vimal Shah, relied heavily on the orders of the AO and his further submissions were reiteration of the arguments tak....