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TMI Blog2021 (4) TMI 1198X X X X Extracts X X X X X X X X Extracts X X X X ..... cation by the assessee and thereafter different schedules are available in the return of income. In the part A-TI (computation of income), the assessee declared [in the row 2(i)] profit and gains from business other than speculative business at ₹ 26,43,090/-. The assessee also declared income chargeable to special rates as per schedule SI at ₹ 26,43,090/-. The Learned Counsel has claimed before us that income of the assessee was liable under section 44D has been but in the return of income filed on 30/03/2015 in the row 34(vi) (on page 58 of the paper-book) the income again section 44D reported as nil. Thus, definitely, return of income has been filed in negligent and casual manner with errors and omissions. On perusal of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion and other under special rate specified in DTAA . It is needless to mention that the assessee shall be provided adequate opportunity of being heard. The grounds of the appeal of the assessee are accordingly allowed for statistical purposes. - ITA No.7453/Del./2017 - - - Dated:- 27-4-2021 - Shri Bhavnesh Saini, Judicial Member And Shri O.P. Kant, Accountant Member For the Appellant : Sh. Ved Jain, Adv. Sh. Ashish Goyal, CA For the Respondent : Sh. Satpal Gulati, CIT(DR) ORDER PER O.P. KANT, AM: This appeal by the assessee is directed against order dated 13/09/2017 passed by the Learned CIT (Appeals)-42, New Delhi [in short the Ld. CIT(A) ] for assessment year 2014-15 in relation to order dated 20/10/2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come Tax Act. (ii) the assessee filed its return of income for the year under consideration electronically on 30/09/2014. In the return of income, the assessee offered the said income under the head profit and gains of business and profession . The same income was also offered for tax at a special rate under schedule SI of the return of income (paper-book at page 35) (iii) On page 40 of the paper-book, the assessee has filed activity chart in relation to the return of income filed. According to this chart, the assessee filed return of income on 30/09/2014 and thereafter, the assessee was communicated on 30/11/2014 that the ITR filed by the assessee was defective/incomplete. Thereafter, the assessee filed another return of income on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 143(1) of the Act and whatever mistake was in the return of income filed by the assessee, which could be corrected by way of filing a revised return. (vii) As the period for filing revised return was already expired, the assessee preferred appeal before the Income-tax Appellate Tribunal (in short the Tribunal ), raising the grounds as reproduced above. 4. Before us, the learned Counsel of the assessee submitted that the assessee is governed by the provisions of section 115A(1)(b) read with section 44AD and is liable to pay tax at the rate of 25% plus surcharge plus cess, however, under Article 13 of India UK Tax Treaty, the rate of tax on FTS is provided at 15%. The rate specified under the Article 13 of India UK treaty, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing returns of income. The return of income filed by the assessee on 30/09/2014 contains parts A and B. After these two parts, there is a verification by the assessee and thereafter different schedules are available in the return of income. On perusal of Part A-BS (Balance-sheet as on 31st March 2014) of the return of income, we find that assessee has reported nil figures. Similarly, in part A-P L (profit and loss account for financial year 2013-14) also the assessee has reported nil figure. In part B-TI (computation of total income) also the assessee has reported nil income. In clause 14 of Part B -TI, the assessee has reported income chargeable to tax at special rates. In schedule SI also the assessee declared income of ₹ 26, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for taxpayer as well as under section 143(1) of the Act. Thus, there is an apparent mistake of computing tax at a special rate without any income reported for tax at a special rate. 6.2 In view of this apparent mistake in the order under section 143(1), the finding of the Ld. CIT(A) that there is no mistake in the order of the Assessing Officer, is not correct. It is evident that the assessee is at fault for not reporting the income in proper columns, but the Assessing Officer, has also committed apparent mistakes of computing tax without considering the income for special rate. In view of the above observation and in the interest of the substantial justice, we set aside the order of the Learned CIT(A) on the issue in dispute and resto ..... X X X X Extracts X X X X X X X X Extracts X X X X
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