DURAISAMY SENTHIL KUMAR,ERODE vs. DCIT CIRCLE 1, ERODE

This appeal by the assessee is arising out of the Revision order passed by the Principal Commissioner of Income Tax, Coimbatore-1, in Order No.ITBA/REV/F/REV5/2023-24/1061308989(1) dated 22.02.2024. The assessment was framed by the Additonal/Joint/Deputy/Assistant Commissioner of Income Tax/ Income Tax Officer, National e-Assessment Centre, Delhi for the - 2 - 2018-19 u/s.143(3) r.w.s.143(3A) & 143(3B) of the Income Tax Act, 1961 (hereinafter the ‘Act’) vide order dated 12.04.2021.

The only issue in this appeal of assessee is as regards to the order of revision order passed by the PCIT u/s.263 of the Act revising the assessment for the reason that the assessee has wrongly claimed deduction of interest amounting to Rs.2,00,000/- u/s.24 of the Act and allowed by the AO and hence, AO’s order is erroneous insofar as prejudicial to the interest of Revenue.

We have heard rival contentions and gone through facts and circumstances of the case. The AO while framing assessment has specifically allowed the claim of assessee of Rs.2,00,000/- from ‘income from house property’ as the assessee was having a self- occupied house property. We have gone through the facts of the case and noted that the assessee is having two house, one from where he has declared rental income of one-halfth share at Rs.90,000/- and claimed standard deduction of Rs.27,000/- and thereby gross income from house property was declared at Rs.63,000/-. This let out property is scheduled at 14/16, Muthurangam Street, Erode. Further, another property which is self-

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