VED PRAKASH KATHURIA,FARIDABAD vs. ACIT, CIRCLE-2, FARIDABAD

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ITA 6266/DEL/2019Status: DisposedITAT Delhi15 March 2023AY 2015-163 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the issue to the AO to verify the correct interest amount from Form 26AS. The AO is directed to decide the issue afresh after considering the correct figure and providing the assessee with an opportunity to be heard.

What were the facts?

The assessee mistakenly reported interest on FDR as Rs. 942,245 instead of Rs. 94,253 due to a clerical error. The Assessing Officer (AO) did not accept this correction, relying on a Supreme Court decision.

What were the issues?

Whether a clerical error in reporting interest income can be rectified during assessment proceedings, and the applicability of the Goetze (India) Ltd. vs. CIT decision.

Which sections of the Income-tax Act were involved?

Not explicitly mentioned, but relates to correction of returns and assessment proceedings.

AI-generated summary — verify with the full judgment below

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Income Tax Appellate Tribunal, DELHI BENCH ‘H’, NEW DELHI

Before: SH. N. K. BILLAIYA & SH. ANUBHAV SHARMA

For Appellant: Ms. Gunjan Jain, CA
Hearing: 15/03/2023Pronounced: 15/03/2023

PER N. K. BILLAIYA, AM:

1.

This appeal by the assessee is preferred against the order of the CIT(A), Faridabad dated 17.06.2019 pertaining to A.Y.2015- 16.

2.

The solitary grievance of the assessee is that the CIT(A) erred in ignoring the fact that the assessee has mistakenly filed return of income with interest on FDR amounting to Rs.942245/- instead of Rs.94,253/-. 3. Briefly stated the facts of the case are that the assessee filed its return of income on 28.12.2015 declaring income of Rs.19046500/- after claiming deduction under chapter VI-A of the Act. On 28.12.2015 the assessee revised his return of income. The return was selected for scrutiny assessment and during the course of assessment proceedings the assessee submitted that due to clerical mistake interest on FDR of Rs.94,253/- has been shown as Rs.942245/- and in support furnished Form 26AS. This revised computation was not accepted by the AO who drew support from the decision of the Hon’ble Supreme Court in the case of Goetze (India) Ltd. Vs. CIT 284 ITR 323.

4.

Assessee challenged the action of the AO before the CIT(A) but without any success.

5.

Before us the Counsel for the assessee reiterated what has been stated before the lower authorities.

6.

The DR relied upon the findings of the AO.

7.

We have carefully considered the orders of the authorities below. The undisputed fact is that the clerical error in showing the interest income on FDR has been accepted by both the lower authorities but at the same time relying upon the decision of the Hon’ble Supreme Court (supra) the error was not rectified.

8.

In the interest of the justice and fair play we restore this issue to the files of the AO. The AO is directed to verify from Form 26AS correct amount of interest on FDR and decide the issue afresh after taking the correct figure of interest on FDR as per Form 26 AS and after affording reasonable opportunity of being heard to the assessee.

9.

In the result, the appeal is allowed for statistical purpose.

10.

Decision announced in the open court on 15.03.2023.

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