2024 (6) TMI 877

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...., 1961 (in short 'the Act') dated 22.04.2014. 2. The assessee assailed the present appeal on the following grounds; "1. Whether in the facts and circumstances of the case, the Learned CIT (Appeals) is justified in confirming the order of Learned Assessing Officer in rejecting the rectification application? 2. Whether in the facts and circumstances of the case, the Learned CIT (Appeals) is justified in confirming addition of Rs. 11,65,000/- on account of interest from firm in which assessee is partner ignoring that interest received from firm is only Rs. 1,29,100/-and not Rs. 12,94,100/-? 3. Whether in the facts and circumstances of the case, even if return filed by the Appellant is under the provisions ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....1,29,100/- Thus, income was computed at 14,09,550/- as shown in return. The signed hard copy of the acknowledgement was not sent and immediately on having knowledge of the mistake on 7/3/2012 corrected his return and declared his correct total income at Rs. 2,44,550/- having acknowledgement No. 348435310070312. Hard Copy of both the returns original & corrected were sent to CPC simultaneously in the same envelop. Copy of both the returns are submitted and placed on record. The Centralized Processing Center, Income Tax Department passed its Order on 11/06/2012 under Section 143(1) on the basis of original return filed on 10/02/2012 without considering the fact that the Original Return has already been corrected on 7/3/2012. Assessee then fil....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d and no relief can be given. It is not a mistake apparent from record." 5. As the assessee did not find any favor from the order of the ld. CIT(A), the assessee preferred the present appeal on the ground as reproduced hereinabove. To support the contention so raised in the written submission reliance was placed on the following evidence / records / decisions: S. No. Particulars Page No. 1 Copy of ITR-V (Original) Dt 10.2.2012 Along with computation of income 1-2 2 Copy of ITR-V (Revised) Dt 7.3.2012 3 3 Copy of Intimation u/s 143 4-6 4 Copy of Application Dt. 24.10.2013 along with audit report 7-22 5 Copy of written submissions before CIT (Appeals) along with e-proceedings acknowledgmen....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hat the assessee filed the revised return and in this case the assessee has already filed the return after the due date there are not provisions to revise that return. Thus, there is no merit in the arguments of the ld. AR of the assessee. Based on these arguments the ld. DR relied upon the finding recorded in the orders of the lower authority. 8. We have heard the rival contentions and perused the material placed on record. The apple of discord in this case is that whether the assessee has received interest from the partnership firm at Rs. 1,29,100/- or Rs. 12,94,100/-. This appears to be mistake apparent from the record and therefore, the application filed by the assessee u/s 154 of the Act is required to be adjudicated on merit and th....