2024 (10) TMI 914

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....enue : Smt. V. Swarnalatha, Sr. DR ORDER PER SATBEER SINGH GODARA, J.M. This assessee's appeal, for the assessment year 2017- 2018, arise against the CIT(A)-National Faceless Appeal Centre [in short the "NFAC"], Delhi, Delhi's DIN & Order no.ITBA/NFAC/ S/250/2023-24/1061383776(1), dated 23.02.2024, in proceedings u/sec.154of the Income Tax Act, 1961 (in short the "Act"). Case called tw....

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....ted to the addition of Rs. 3,33,650/- made by the AO. During the appellate proceedings, the appellant contended that the assessee Mrs. Sheela Davis, Proprietrix, Welfare Firm is doing money lending business. She filed Income-tax Return for the Assessment Year 2017-18 on 21/03/2018. The return was selected for scrutiny. The assessee had filed the return u/s. 44AD of the Income-tax Act, 196....

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....practice. This appeal is being filed against the addition of Rs. 3,33,650/- 5.2.1. I have carefully perused the facts of the case of the appellant. In the case of appellant the AO has passed order u/s. 154 of the I.T. Act on 13.01.2020 rectifying the order u/s. 143(3) dated 24.12.2019. In the rectification order, the AO mentioned that :- The assessment in this case was c....

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....ed u/s 154 of the Income Tax Act, 1961 as under : Assessed income us 143(3) dated 24.12.2019 Rs 15,25,337/- Less: Deletion as discussed in para 2 Rs 4,63,000/- Revised Total Income : Rs.10,62,337/- 5.2.2. As seen from the rectification order the AO has already deleted the addition of Rs. 4,63,000/- after verification of the facts submitted by the assessee during proceedi....