2023 (6) TMI 666

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....A.M.: The captioned appeal has been filed by the assessee against the order of the ld. Commissioner of Income Tax (Appeals)-NFAC, Delhi ('CIT(A)' in short) dated 09.02.2023 arising from the assessment order dated 14.09.2021 passed by the Assessing Officer (AO) under Section 144 r.w. Section 147 of the Income Tax Act, 1961 (the Act) concerning AY 2015-16. 2. The grounds of appeal raised by the as....

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....sment Year 2015-16 on 12.07.2016 declaring total income at 'Nil' where exempt income shown was Rs. 18,26,202/- being interest on land compensation from NOIDA Authority. The assessee thereafter filed revised return on 21.03.2017 again reporting 'Nil' taxable income and claimed the entire interest on land compensation of Rs. 18,26,202/- as exempt. Thereafter, a notice under Section 148 dated 17.07.2....

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....y paid. The Assessing Officer treated revised return in response to Section 148 is invalid due to error in e-verification etc. and added Rs. 9,13,101/- to the taxable income (as per original return of income) offered and assessed the income at Rs. 9,13,100/-. 4. In this factual backdrop, the ld. counsel submitted that he has no objection to the assessed income rather the assessee himself had offe....