2019 (4) TMI 1370

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....t 1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in not considering the revised computation of book profits submitted by the Appellant during the course of the assessment proceedings and in not adjudicating on the merits of the case. 2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in making an observation that the appellant had falsely taken the plea that its letter dated 22,01.2015 submitting the revised computation under section 115JB was not considered by the AO merely relying on an office note maintained by the AO to which the Appellant is not privy to. 3. On the facts and in the circumstances of the case and in law, the Ld. CIT(A....

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.... income as disclosed by the assessee u/s.115JB of the Act meaning thereby accepted the return of income as filed by the assessee. 4. Before the ld. CIT(A), the assessee submitted that during the course of assessment proceedings, the assessee filed a letter dated 22/01/2015, submitted the revised computation of its book profit u/s.115JB of the I.T. Act declaring total income of Rs. 2,48,07,947/-. It was further submitted that there was an inadvertent computation of book profit u/s 115JB of the I T Act as per the income tax return. The assessee requested the Assessing Officer to revised computation of book profit u/s.115JB of the I T Act as submitted before the Assessing Officer. It was further submitted that in the assessment order u/s.14....

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.... record that the AO had duly considered the letter dated 22/01/2015 of the appellant and the computation filed along with the letter. He had also given the reasons for why he has not considered revised computation. The appellant had falsely taken the plea that its letter dated 22/01/2015 was not considered. In view of the above fact and circumstances of the case, I did not find any merit on the submission of the appellant and therefore, Ground No. l is dismissed. 6. Against the above order, the assessee is in appeal before us. 7. We have heard both the counsel and perused the records. We find that the revised computation of the assessee has been rejected by the A.O. solely on the ground that the assessee has not filed the same in the ....