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TMI Blog2022 (5) TMI 368X X X X Extracts X X X X X X X X Extracts X X X X ..... ed under section 143(3) of the Act dated 24.12.2016 and the same was rejected by the Assessing Officer on the ground that the assessee has not claimed interest expenditure in the original return of income filed by the assessee. On appeal, the ld. CIT(A) confirmed the rejection of petition filed by the assessee under section 154 of the Act. Since the Assessing Officer has no power to adjudicate a claim, which was not made in the original return of income filed by the assessee or filed any revised return of income before conclusion of assessment, we find no infirmity in the order passed by the ld. CIT(A) on this issue and accordingly, the appeal filed by the assessee is dismissed. - I.T.A. No.1383/Chny/2019 - - - Dated:- 6-5-2022 - Shr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inst the addition to the fixed assets. The assessee did not dispute the assessment order before the first appellate forum, however, the assessee filed a petition under section 154 of the Act requesting rectification of the order passed under section 143(3) on 24.12.2016. The application under section 154 of the Act was rejected by the same Assessing Officer Smt. A. Soranam, Assistant Commissioner of Income Tax, Non Corporate Circle-3, Madurai through an order dated 05.05.2017 wherein the Assessing Officer held that: You are hereby informed that any rectification u/s 154 of the assessment order passed u/s 143(3) on 24.12.2016 based on the lines as requested by you in your petition dated 11.02.2017 would only amount to review/revision by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... availed for the purchase of machinery, that the said sum of Rs.8,96,649/- was included in the total figure of Rs.41,08,908/- being interest on bank loan availed for the purchase of machineries and the Oragadam Lease Rental Loan as stated under para 2 of the petition filed u/s 154 filed before the learned Assistant Commissioner of Income Tax and that th assessee, by mistake, had added the above figure of Rs.41,08,908/-, instead of Rs.32,12,259/- being the proportionate interest for Lease rental loan as inadmissible in the statement of computation of income filed by the assessee as submitted under para 2 of the petition filed by the assessee. 3) The learned Assessing Authority ought to have disclosed the reasons for her conclusion that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from record possibly due to the fact that the calculation of proportionate interest itself required some amount of analysis, investigation, bifurcation, proportioning etc. which the Assessing Officer felt was not a mistake apparent from record. In my considered opinion, the action of the Assessing Officer appears to be based on a sound legal footing. Besides, the appellant had the proper recourse to appeal against the order u/s 143(3) itself wherein the complex issue of proportionate interest would have been adjudicated. Under the facts of the case, I do not find any merit in the grounds of appeal filed by the appellant in this case. Accordingly, the order u/s 154 passed by the Assessing Officer rejecting the application of the appellant s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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