TaxTMI 
TaxTMI 
TaxTMI 
2015 (7) TMI 400
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....rental income from flat of Rs. 1,61,880, which was omitted to be included at the time of filing of original return of income. 2. Brief facts of the case are that, the assessee is an individual having income from house property and interest income. The return of income was filed on 29th July, 2008, declaring total income of Rs. 5,18,250. However, at the time of filing of return of the income, the assessee had failed to disclose the rent received from the flat at Atlantis Building. During the course of the assessment proceedings, the assessee filed a copy of revised return on 6th November, 2010, showing total income of Rs. 6,31,570 after including the rent receipts of Rs. 1,61,880. However, the Assessing Officer (AO) held that such a return ....
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....Mrs. Geeta Kapoor in assessment year 2007-08. During the assessment year 2007-08, the said flat was given on rent at a monthly rent of Rs. 13,000/- and the assessee has declared rental income of Rs. 39,000/- during A.Y. 2007-08. Thereafter through oversight the assessee omitted to declare such rental income i.e. Rs. 1,61,880/- while filing return for A.Y. 2008-09. During the course of the hearing, the said mistake was detected by the assessee herself and a revised return was filed to show the rental income of Rs. 1,61,880/-. We have to further submit that the rental income was deposited by the assessee in her bank account with HDFC bank bearing Account No.005210000107744. The income with regard to the rent was reflected in the bank statemen....
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....ted to be included while computing the income. The first notice issued by the AO raising various queries and asking for details, was issued on 01.06.2010. In such a notice, there was not a whisper about non-inclusion of rental income. The copy of said notice have been filed before us. Without there being any query by the AO, the assessee later on realized that the rental income from the second flat has not been shown, therefore, revised return was filed to include the income. Even if the revised return is treated as nonest, then also the assessee's revised computation should have been taken on record, wherein this income was duly disclosed. The error was rectified by the assessee suo moto without there being any specific notice issued by th....
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....ies carried on by you. 3. Details of family members with nature and source of income and details of drawings. 4. Loan confirmation in respect of loan taken and given including squared up. 5. Please file copy of Tax Audit Report, Balance Sheet, P&L A/c and personal balance sheet & Capital A/c for the year ended 31.3.08 & computation of income. 6. Name and address of the sundry debtors and creditors with age-wise. 7. Give details of all bank accounts maintained by you and produce copy of bank statement for verification. 8. Details of investment made during the financial year 1.4.2007 to 31.3.2008. 9. Month-wise purchase & sales made during the year. 10. Party-wise purchase & sales exceeds Rs. 50,000/-. 11. Details of expenses debited....