2024 (10) TMI 867

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....d its return of income on 30.12.2021 and the same was processed under section 143(1) of the Income-tax Act, 1961 (for short 'the Act') and in the intimation order passed u/s 143(1)(a), an amount of Rs. 1,07,04,630/- was added back which includes an amount of Rs. 3,82,508/- which is the dispute raised by the assessee before us. The assessee raised a ground before ld. CIT (A) and submitted that the amount disallowed by the Assessing Officer which was already disallowed by the assessee itself and which is a part of the addition declared by the assessee of Rs. 42,54,512/- and submitted the details of disallowance made by the assessee. It was also submitted that before making such disallowance, assessee should have been given an opportunity of b....

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....rn of income submitted by the assessee. 04 That amount of Rs. 4,66,800/- has already been disallowed which consists Rs. 3,82,508 on account of MSME interest and Rs. 84,292/- on account of prior period expenditure. Hence, adding again of Rs. 3,82,508 will amount to be double taxation. 05. That the appellant craves to alter, leave or amend any grounds of appeal either before or at the time of hearing of appeal. 4. At the time of hearing, ld. AR for the assessee brought to our notice page 9 of the paper book and submitted that the amount is disallowed by the assessee at Rs. 4,66,800/- includes the amount of Rs. 3,83,508/-. Further, he brought to our notice page 13 of the paper book which is the computation of income wherei....

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.... Rs. 42,54,512/- which includes disallowance of loss on sale of assets, interest on TDS, penalty and MSME interest of Rs. 3,82,508/- and prior period expenditure of Rs. 84,292/-. However, while filing the return of income, no doubt assessee has disallowed total amount of Rs. 42,54,512/- and while declaring the break up in the return of income in Column 7 of Part-A which is the amount debited to the profit & loss account to the extent disallowable u/s 37 of the Act. While giving the break up, the assessee has wrongly mentioned disallowance of MSME interest and prior period expenses in Column-I i.e. amount of any liability of a contingent nature, it is an apparent mistake which was brought to the notice of ld. CIT (A). However, ld. CIT (A) re....