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TMI Blog2021 (9) TMI 1255X X X X Extracts X X X X X X X X Extracts X X X X ..... 01.04.2013 and, therefore, the assessee withdrawn the weighted deduction claim by filing revised computation of income before the Assessing Officer in ongoing assessment proceedings. This cannot be termed as concealing income or furnishing inaccurate particulars of income. Besides this, the assessee has also given explanation before the Assessing Officer as relates to revised computation of income. Thus, in case of CIT Vs. Reliance Petro Products Pvt. Ltd. [ 2010 (3) TMI 80 - SUPREME COURT] - Thus, there is no need to interfere with the findings of the CIT(A). The appeal of the Revenue is dismissed. - I.T.A. No. 6952/DEL/2017 - - - Dated:- 23-9-2021 - Suchitra Kamble, Member (J) And Prashant Maharishi, Member (A) For the Appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing tax payable under section 115JB of the Act. The case was taken up for scrutiny and assessment u/s. 143(3) of the Act was completed by assessing officer on 05.02.2016, determining assessed income at ₹ 1,92,00,408/- under normal provisions of Act. The Assessing Officer passed the assessment order on 05.02.2016 thereby making addition/disallowance under the heads (i) disallowance of weighted deduction claimed u/s. 35(2AB) of the Act (ii) addition of ₹ 4,37,244/- u/s. 2(24)(x) read with section 36(1)(va) of the Act, on account of delayed payment of employees contribution to PF and (iii) disallowance of ₹ 10,229/- u/s. 14A of the Act read with Rule 8D. While computing total income for AY 2013-14, the Assessing Officer allow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) has give a categorical finding that the assessee was under the genuine belief that approval will be granted by the appropriate authority i.e. DSIR and accordingly made the claim for deduction u/s. 35(2AB) of the Act for the Assessment Year under consideration. But the approval was granted by DSIR w.e.f. 01.04.2013 and, therefore, the assessee withdrawn the weighted deduction claim by filing revised computation of income before the Assessing Officer in ongoing assessment proceedings. This cannot be termed as concealing income or furnishing inaccurate particulars of income. Besides this, the assessee has also given explanation before the Assessing Officer as relates to revised computation of income. Thus, in light of the decision of the Hon ..... X X X X Extracts X X X X X X X X Extracts X X X X
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