ASOK BORAL,MURSHIDABAD vs. A.C.I.T., CIRCLE - 42, MURSHIDABAD
Before: Shri Duvvuru RL Reddy, Vice-(KZ)
The present appeal is directed at the instance of assessee against the order of ld. Addl./JCIT(Appeals)-13, Mumbai dated 5th
June, 2024 passed for Assessment Year 2021-22. 2. Brief facts of the case are that the assessee is an individual, who filed his return of income declaring total income of Asok Boral
Rs.5,02,730/-, which consisted of income from business, income from house property and income from other sources. The assessee carried the business of trading in hardware items and broken rice. The assessee also earned gross rental income of Rs.4,12,000/- and interest income of Rs.1,29,922/-. Books of accounts of the appellant was audited under section 44AB of the Income Tax Act and the audit report was also filed. The amount of interest and house property income was shown in the return of income under the head “income from other sources” and “income from house property” respectively. While processing the return of income, the ld. Assessing Officer observed that in the Tax Audit
Report in Form 3CD at Serial No. 16(d), the income earned by the assessee on account of interest was not reproduced in the return of income under the Schedule ‘Other Information’ in the column
‘Amount not credited to the Profit & Loss Account’ and made the addition.
Being aggrieved, the assessee preferred an appeal before the ld. CIT(Appeals).
After considering the submissions made by the assessee, the ld. Addl./JCIT(Appeals) dismissed the appeal filed by the assessee.
I have heard both the sides. It was the submissions of the assessee that the amount of interest and the amount of income from house property earned by the appellant were duly mentioned under the head “income from other sources” and “income from house property” respectively. He further submitted that the ld. Asok Boral
Assessing Officer while passing the assessment order under section 143(1), made disallowance/addition twice, therefore, it is nothing but a double taxation. He further submitted that all the income as mentioned in the Tax Audit Report were declared and shown under different heads of income, which was even accepted by the ld. Assessing Officer as income from other sources in the order under section 143(1). Therefore, it ought not have been added again for the reason that non-mentioning of the amounts in the return of income under the head “other information” was purely a technical mistake. Therefore, he pleaded to delete the addition made by the ld. Assessing Officer.
On the other hand, it was the submission of the ld. Departmental Representative that the assessee has filed the return of income and has shown ‘income from house property’ as well as ‘interest income’ as income from other sources. The ld. D.R. also considered the fact that the assessee has offered the income in the return of income. Therefore, he pleaded to uphold the order passed by the ld. Addl./JCIT(Appeals).
I have perused the material available on record. It is an admitted fact that the assessee has offered ‘income from house property’ as well as ‘interest income’ as income from other sources. The return of income filed by the assessee clearly establishes the fact. Therefore, there is no need to make addition under the head “income from house property” as well as “interest income” as income from other sources. Therefore, I have no hesitation to come to the conclusion that the assessee has clearly established that the Asok Boral amounts have already offered for taxation. I direct the ld. Assessing Officer to delete the addition. Therefore, the grounds raised by the assessee are allowed.
In the result, the appeal filed by the assessee is allowed. Order pronounced in the open Court on 31/01/2025. (Duvvuru RL Reddy) Vice-President (KZ)
Kolkata, the 31st day of January, 2025
Copies to :(1) Asok Boral,
Raghunathganj-1,
Dist. Murshidabad-742225, West Bengal
(2) Assistant Commissioner of Income Tax,
Circle-42, Murshidabad,
Aayakar Bhawan,
57, R.N. Tagore Road,
Baharampore, Murshidabad-742101,
West Bengal
(3) Addl/JCIT(Appeals)-13, Mumbai;
(4) CIT- , Kolkata;
(5) The Departmental Representative;
(6)
Guard FileBy order