TaxTMI 
TaxTMI 
2021 (8) TMI 336
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....e circumstances of teh case and in law, the learned CIT(A) erred confirming the addition made by the Assessing Officer and assessed the income at Rs. 2,67,56,790 as against the returned income of Rs. 2,05,230. 2. On the facts and in the circumstances of the case and in law, the learned CIT(A) erred in making addition of Rs. 2,61,88,228 under section 68 of the Act even though the appellant had produced the documentary evidence of the fact that there was a typographical eror at the time of filing up the Form of return of income and the same ought to have been considered." 3. Facts in brief:- During the course of assessment proceedings, on a perusal of the Balance Sheet, the Assessing Officer observed that the assessee has shown pr....
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.... income on 09.10.2013 declaring total income of Rs. 2,05,230 claiming S.A. tax of Rs. 600, showing Proprietor's capital at Rs. 2,61,88,228, Fixed block assets Rs. 1,11,23,060, Investments in Government and other securities - quoted Rs. 51,88,585 and unquoted Rs. 79,74,312." 4. According to the Assessing Officer, the assessee despite filing revised return of income on 1st October 2013, has brought the same facts and figures which were shown in the original return of income for the year under consideration. Therefore, the Assessing Officer held that the assessee's explanation is nothing but fiction created to mislead the Revenue and hence, the Assessing Officer treated the amount of Rs. 2,61,88,228, as unexplained income of the assessee un....
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....y my ITP Mr. Suresh M Bhatija staff filed the return was totally wrong and immediately after 8 days they have filed a revised return on 09/10/2013 which I am attaching along with application. As the above said explanation, I have already state that by mistake from my ITP Mr. Suresh M. Bathija staff side they have claimed TDS which is not liable in A.Y. 2013-14 in my case I have given Rs. 600 to my ITP (Income Tax Practitioner) Mr. Suresh M. Bathija to pay a self assessment tax for A.Y. 2013-14. I don't have any kind of block of Rs. 1,11,23,060 as I stay in slum area (Chawl) so sir please understand how can I afford to take a block of Rs. 1,11,23,060. As my income is very nominal and my income lies in form of Hand to Mount,....
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....d & unquoted type of investment which I have stated above. Being unable to work on a daily basis, I have very nominal income. Bank statement attached for your reference, I do not own any residential / commercial property nor do I have any other kind of assets. So please sir its my humble request to you that kindly understand the reason behind of my wrong capital filing return. Please sir make me free from this scrutiny case I am suffering in very bad condition I have no money to fulfill my basic needs so how can I pay so much tax demanded by your respected side. The above statements true and correct to my knowledge and belief. I earnestly request your good self to kindly consider my case keeping the above in consi....
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....had never shown higher authorized capital. It is brought to our notice that the tax practitioner filed the return of income of the following persons:- 1. Shri Sanjiv Shankar Vachani; 2. Shri Farook Saidu Shaikh 3. Shri Joseph Raymond Lopes 4. Ms. Leena Joseph Lopes; 5. Shri Jani Navani; and 6. Shri Gopi Advani. 8. The tax practitioner has filed the return of income with similar and same amount as capital and other investment as assets in all the above cases by mistake. The relevant copies of returns of income are placed in the paper book. The learned Authorised Representative brought to our notice, in the case of Ms. Leena Joseph Lopes and Shri Jani Navani, the tax consultant has wron....