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TMI Blog2018 (5) TMI 438X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee firm charged transportation charges from customers in their sale bills as it is evident from the ledger account submitted that transport outward and inward have been maintained commonly and net balance of ₹ 4,48,172/- has been shown in profit and loss account as an expense. The assessee is justified in charging the depreciation as claimed because no mistake has been pointed out b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TA No.372/Jodh/2016 for the assessment year 2009-10 is under challenged. As per facts of the case, the respondent assessee submitted his return of income for the assessment year 2009-10 on 27.9.2009 declaring income of ₹ 8,29,678/-. The assessment under Section 143(3) was completed on 23.12.2011. In case of respondent firm, the revenue audit raised minor audit objection that depreciation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... learned ITAT. The learned ITAT vide order dated 4.1.2017 allowed the appeal of the assessee and quashed the order passed under Section 154 of the Act of 1961 passed by the AO. Being aggrieved and dissatisfied with the said order, the instant appeal has been filed. Learned counsel for the appellant submits that no error was committed by the assessing officer or CIT (A) because valid audit was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee is justified in charging the depreciation as claimed because no mistake has been pointed out by the AO himself and as per Section 154(2) of the Act the income tax authority can rectify the mistake apparent from the records on its own and in this case, the order has been passed under Section 154 rectifying the mistake on the basis of objection by the audit party which is not an income tax a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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