EXPO CENTURY LOGISTICS (P) LIMITED,CHENNAI vs. ITO COMPANY WARD 11 (1), CHENNAI

The assessee filed this appeal against the order of the Commissioner of Income Tax(A)-13, Chennai, in dated 09.11.2017.

M/s.Expo Century Logistics (P) Ltd., the assessee, e-filed its return of income for the AY 2009-10 declaring a total income at Rs.8,71,179/- on 02.09.2009 which was processed u/s.143(1). Against the order u/s.143(1), the assessee preferred rectification application u/s.154 before the AO, contending that the income assessed by the AO was not in accordance with the computation of income schedule appearing in the e- filed return. The AO verified the assessee’s claim and rejected the rectification petition by an order dated 21.05.2013. Aggrieved against the order, the assessee filed an appeal before the Ld.CIT(A). The Ld.CIT(A) dismissed the appeal. Against the order of the Ld.CIT(A), the assessee filed this appeal.

The Ld.AR submitted that the Ld.CIT(A) failed to appreciate that the income assessed by the AO was not in accordance with the computation of total income and the audited financials filed electronically. He invited our attention to Item No.36 under Schedule-B “computation of income from business or profession” in ITR-6, wherein, the net loss from business or profession was shown at (-)Rs.8,71,179/-. However, in Item No.37 of the ITR-6, the minus sign was omitted to be incorporated. The AO without verifying the computation of total income and audited financials etc., which have been filed electronically, computed the total income at Rs.8,71,180/- instead of (-)Rs.8,71,180/- and hence pleaded that the income of the assessee should be determined at a loss of Rs.8,71,180/-.

We heard the rival submissions. Apparently, there appears to be mistake in entering the figures in the ITR-6. In the facts and circumstances, we deem it fit to remit this issue back to the AO for a fresh examination. The AO shall verify all the documents filed by the assessee and after giving opportunity of being heard to the assessee would determine the correct total income, afresh, taking into account all the particulars filed by the assessee.

In the result, the appeal filed by the assessee is treated as allowed for statistical purposes.