TaxTMI 
TaxTMI 
TaxTMI 
2023 (7) TMI 993
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....2/03/2018 having been said to be issued was not communicated to the appellant society. As such, the impugned order deserved to be quashed on this ground only. 3. THAT the impugned order dated 16/03/2018 having been passed without service of only notice issued for 12/03/2018 on the appellant society, any action u/s. 154 of the IT Act, 1961 as on today is barred by time. 4. THAT the issue of interest income Rs. 41, 64, 620-00 having been neither discussed nor decided in the assessment order dated 06/11/2013, this issue could not be subject matter of rectification u/s. 154 of the IT Act, 1961. 5. THAT in the impugned rectification order the Ld. Authority below has added Rs. 34,39,460-00 under head 'Disallowance of interest u/s. 36[1[iii] in the taxable income already determined at Rs. 7,35,160=00 vide assessment order 06/11/2013. Dated In the present case the appellant society did not claim any expenses to the amount of Rs. 34,39,460=00; how, this amount could be disallowed as expenses u/s. 36[1][iii] and added in taxable income. 6. THAT before the Ld. First Appellate Authority the appellant society filed written submissions supported with various documents and judgments....
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....s.7,35,160/- making addition of Rs 7,35,160/- on account of disallowance of interest u/s 36(i)(iii) of Rs 6,76,154/ and disallowance of expenses u/s 40(A)(3) of Rs. 60,000/ and a demand of Rs. 2,24,074/-was created. Further, assessee filed an application u/s 154 on 02.01.2014 requesting that credit of TDS was not given while making calculations at the time of assessment u/s 143(3). Order u/s 154 was passed by the AO on 11.02.2014 and refund of Rs 1,84,880/ was issued to the assessee with the prior approval of Addl. Commissioner of Income Tax Range 1. Faridabad. 3. Further, Revenue Audit Party raised objection during audit observing that assessee has received / earned interest amounting to Rs. 41,64,620/-, whereas AO has considered interest of Rs. 7,35,160/ only during assessment proceedings. Therefore, amount of Rs 34,29,460/ should be added to the income of the assessee. Considering the above notice u/s 154 of the Act was issued to the assessee on 07.03.2018 to furnish the reply on or before 12.03.2018. In response thereto no reply filed by the assessee and order u/s 154 of the Act, was passed by the AO on 16.03.2018 creating a demand of Rs 13,98,808/-. 3.1 Aggrieved with the ....
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....ecided in the assessment order 06/11/2013, this issue could not be subject matter of rectification u/s 154 of the 11 Act, 1961. Assessment in this case was completed u/s 143(3) on 06 11 2013 at an income of Rs 7,35,160/- making addition of Rs. 7.35.160/- on dated account of disallowance of interest u/s 36(1)(ii) of Rs. 6,76,154/ and disallowance of expenses u/s 40(A)(3) of Rs. 60,000/ and a demand of Rs. 2,24,074/ was created Later on, Revenue Audit Party raised objection during audit observing that assessee has received / earned interest income of Rs 41,64,670/ whereas AO has considered interest of Rs 7,35,160/ only while passing order u/s 143(3), Of the Act. Therefore, amount of Rs. 34,29,460/ should be added to the income of the assessee. Thereafter Notice u/s 154 of the Act was issued to the assessee on 07/03/2018 to rectify the mistake and requiring to file reply on or before 12/03/2018 by the assessee. In response thereto no reply filed by the assessee.. After that order under section 154 was passed by the A.Q within the time limit and demand was created. 5. that in the impugned rectification order the to Authority below has added Rs. 34,39,460/ under head 'Disallowa....
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....ny order passed by it under the provisions of this Act ; (b) amend any intimation or deemed intimation under sub-section (1) of section 143; (c) amend any intimation under sub-section (1) of section 200A; (d) amend any intimation under sub-section (1) of section 206CB. (1A) Where any matter has been considered and decided in any proceeding by way of appeal or revision relating to an order referred to in sub-section (1), the authority passing such order may, notwithstanding anything contained in any law for the time being in force, amend the order under that sub-section in relation to any matter other than the matter which has been so considered and decided. (2) Subject to the other provisions of this section, the authority concerned- (a) may make an amendment under sub-section (1) of its own motion, and (b) shall make such amendment for rectifying any such mistake which has been brought to its notice by the assessee or by the deductor or by the collector, and where the authority concerned is 71[the Joint Commissioner (Appeals) or] the Commissioner (Appeals), by the Assessing Officer also. (3) An amendment, which has the effect of enhancing an assessment or reducing ....