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Income Tax Appellate Tribunal, INDORE BENCH, INDORE
Before: SHRI B.M. BIYANI & SHRI PARESH M. JOSHI
आदेश/ O R D E R
Per B.M. Biyani, A.M.:
Feeling aggrieved by order of first appeal dated 28.11.2024 passed by learned Commissioner of Income-Tax (Appeals)-Addl/JCIT(A)-2, Coimbatore [“CIT(A)”] which in turn arises out of intimation of assessment dated 25.09.2018 passed by CPC, Bengaluru [“AO”] u/s 143(1) of Income-tax Act, 1961 [“the Act”] for Assessment-Year [“AY”] 2017-18, the assessee has filed this appeal on the grounds mentioned in Form No. 36 (Appeal Memo).
Page 1 of 5 assessee-individual filed her return of AY 2017-18 u/s 139 on 05.08.2017 declaring a total income of Rs. 1,00,310/- computed on the basis of Interest from Saving Bank A/c – Rs. 84 (+) Interest from M/s Vimal Urvarak Vikray Kendra, Badnawar – Rs. 1,00,312 = Total interest income of Rs. 1,00,396 (-)
Deduction u/s 80TTA in respect of interest from Saving Bank A/c – Rs. 84 = 1,00,312/- rounded off to Rs. 1,00,310/-. However, the AO, while processing return of assessee, picked interest figure of Rs. 8,24,485/- from database of department (Form No. 26AS). This figure of Rs. 8,24,485/- had, at that time, appeared in Form No. 26AS from the details filed by M/s Vimal Urvarak Vikray Kendra, Badnawar. Actually, M/s Vimal Urvarak Vikray Kendra, Badnawar made a reporting mistake in their statements filed to department whereby they reported opening balance of loan given by assessee to them at Rs. 8,24,485/- instead of interest of Rs. 1,00,312/- paid by them to assessee. Since it was an automated processing of assessee’s return u/s 143(1), the departmental system picked the figure of Rs. 8,24,485/- and made addition accordingly. The assessee contested matter in first-appeal before CIT(A) and filed evidences but the CIT(A) has not given any relief. Therefore, the assessee has come in next appeal before us.
We have heard the learned Representatives of both sides and carefully perused the documents to which our attention has been drawn. Ld. AR for assessee has filed a copy of latest Form No. 26AS downloaded from the Page 2 of 5 demonstrate that the error made by M/s Vimal Urvarak Vikray Kendra, Badnawar stands rectified and the interest income now appearing in latest Form No. 26AS is Rs. 1,00,312/-. Accordingly, the AO must be directed to give effect to latest information available in departmental data (Form No. 26AS) and delete the addition made.
Ld. DR for revenue is fair enough in agreeing to the submission and request made by Ld. AR.
After a careful consideration, we agree with the submissions made by Ld. AR. For immediate reference, the latest Form No. 26AS filed by assessee in Paper-Book is scanned and re-produced below:
Page 4 of 5 interest u/s 194A of Rs. 8,24,485/- has been cancelled out by a negative entry of same amount and the new entry of interest of Rs. 1,00,312/- is now appearing. Therefore, we are in total agreement with the submission of Ld.
AR and accordingly direct the AO to re-process the intimation u/s 143(1) by taking into account the latest data in Form No. 26AS and delete the addition made in assessee’s case. This appeal is allowed accordingly.
Resultantly, this appeal is allowed.
Order pronounced in open court on 31/07/2025