2019 (3) TMI 1257

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....ds interest expenditure. 3. Brief facts are, the assessee is an individual. For the assessment year under dispute, the assessee filed his return of income on 8th January 2013, declaring total income of Rs. 4,99,994. In the course of assessment proceedings, the Assessing Officer noticed that after claiming deduction of Rs. 6,08,542, under section 57 of the Act against the interest income of Rs. 6,11,826, the assessee has shown net income of Rs. 3,284, under the head income from other sources. Therefore, the Assessing Officer called upon the assessee to furnish evidence regarding the deduction claimed under section 57 of the Act. As observed by the Assessing Officer, in response to the query raised, the assessee filed letter dated 9th Janu....

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....of assessment proceedings the assessee rectified the mistake committed in the return of income by filing a revised computation of income along with an affidavit, however, the Assessing Officer rejected them only on the ground that the assessee did not rectify such mistake through a revised return of income. He submitted, before learned Commissioner (Appeals), though, the assessee had raised specific grounds seeking relief on account of excess income shown towards salary and interest, however, learned Commissioner (Appeals) entertained assessee's claim only with regard to the salary income while ignoring the ground raised for interest income. He submitted, though the assessee moved an application under section 154 of the Act enclosing all th....

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.... while learned Commissioner (Appeals) has accepted assessee's claim with regard to salary income, he has failed to adjudicate the ground raised by the assessee with regard to interest income fully and has dealt with the issue partially by considering the alternative submissions made by the assessee. Though, the assessee filed an application under section 154 of the Act before learned Commissioner (Appeals), however, as it appears, the said application was rejected by learned Commissioner (Appeals) in a mechanical manner without affording an opportunity of being heard to the assessee and without verifying the evidences furnished by the assessee. Be that as it may, it is the specific contention of the assessee from the assessment stage itself....