BENCO THERMAL TECHNOLOGIES PVT. LTD.,,CHENNAI vs. DCIT, CPC,, BENGALURU

This appeal by the assessee is arising out of the order of Commissioner of Income Tax (Appeals)-1, Chennai in order dated 28.08.2020. The return of income was processed and intimation u/s.143(1) of the Income Tax

The only issue in this appeal of assessee is as regards to the order of CIT(A) confirming the intimation passed u/s.143(1) of the Act, by the DCIT, CPC for making adjustment of interest income of Rs.4,66,775/- which was doubly added. For this, assessee has raised various grounds which need not to be reproduced.

We have heard rival contentions and gone through facts and circumstances of the case. The ld.AR for the assessee took us through the intimation issued by the Department u/s.143(1)of the Act and the return of income filed. The ld.AR first of all took us through page 17 of the return of income, wherein other income i.e., interest income is disclosed at Rs.4,66,775/- and rent is disclosed as Rs.3,00,000/-. The ld.AR then took us through page 61 of the return of income, where ‘income from other sources’ i.e., interest income is disclosed at Rs.4,66,775/- but at page 45 of the return of income in the column house property, the assessee has wrongly disclosed as Rs.7,66,775/- including interest income of Rs.4,66,775/-. Hence, there is a clear cut double addition of interest twice, once under the ‘income from other sources’ and 3 second under the head ‘income from house property’. We consider this is clearly a mistake of the assessee while filing the return of income and hence, we direct the AO to exclude this Rs.4,66,775/- from the head ‘income from house property’ and treat ‘income from house property’ at Rs.3,00,000/-. We direct the AO accordingly.

In the result, the appeal filed by the assessee is allowed.