2024 (1) TMI 207

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....: Shri Siddharth Bhim Singh, Sr. DR ORDER PER N.K. BILLAIYA, AM This appeal by the Assessee is preferred against the order dated 12.01.2023 by NFAC, Delhi, pertaining to A.Y. 2010-11. The grievance of the assessee reads as under: "1. On the facts and in the circumstances of the case and in law the Ld. CIT (A), National Faceless Appeal Centre, Delhi erred in: 1. Upholding....

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..... The return was processed u/s 143(1) of the Act on 31.03.2012. 4. Subsequently, the assessee filed an application u/s 154 of the Act claiming exemption u/s 10(10AA) of the Act on account of leave encashment amounting to Rs. 6,50,000/-. This application was dismissed by the AO who was of the opinion that a fresh claim can only be made through a revised return of income. 5. The assessee chall....

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....efore us, the Counsel for the assessee reiterated the claim saying that pursuant to the decision of the Tribunal in the case of Ram Kanwar Rana (supra), the assessee became eligible for the deduction u/s 10(10AA) of the Act and since the assessee had not claimed any deduction in his return of income. The mistake should have been rectified by the CIT(A). Strong reliance is placed on several judicia....