2025 (3) TMI 1944

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....ER SUDHANSHU SRIVASTAVA, J.M.: This appeal has been preferred by the assessee against the order dated 21.03.2024, passed by the ld. Commissioner of Income Tax (Appeal), National Faceless Appeal Centre (NFAC), Delhi for Assessment Year 2015-16. 2. The brief facts of the case are that the assessee was engaged in Diary business and sale of cattle feeds, vegetables, etc. during the year under co....

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....or the year under consideration and declared 8% of the receipts, which came to Rs. 6,80,000/-, as its business income. Moreover, the assessee had also declared interest receipt to the tune of Rs. 2,27,323/-. The Assessing Officer (AO) completed the assessment under section 147 of the Act on the very income declared by the assessee in response to notice under section 148 of the Act, i.e., at Rs. 8,....

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....was found to be correct and, therefore, the mistake apparent from record, in this regard, was rectified by the AO. However, ground No.2 raised by the assessee in the rectification application was rejected by the AO and held that the revised total income of the assessee remains the same, i.e. Rs. 8,97,320/. 3. Aggrieved by the rectification order dated 19.05.2023, passed under section 154 r.w.s.....

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..../s 250 of the Income Tax Act, 1961, and thereby violating the principles of natural justice. 3. That on facts and in law the CIT(A) has erred in upholding the levy of interest u/s 234B of the Income Tax Act, 1961. 4. That the appellant craves to add, to alter, amend or vary from the above grounds of appeal at or before the time of hearing. 5. None was present for the assessee ....