UDAY VITHAL NAGPURE,MUMBAI vs. AO MUMBAI, MUMBAI

Facts

The assessee filed an appeal against the order of the CIT(A) for AY 2011-12. The original assessment was completed u/s 144 r.w.s 147, and later a rectification order u/s 154 was passed regarding the interest charged under section 234B. The assessee claimed that the original assessment was done on assumption and that 20% of the demand paid was not considered.

Held

The Tribunal noted that the assessing officer had not made any changes to the assessed income, only rectifying the calculation of interest under section 234B. Since no material was presented to differ from the CIT(A)'s findings, the appeal was dismissed.

Key Issues

Whether the interest charged u/s 234B was wrongly calculated and whether the original assessment was based on assumption.