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TMI Blog2016 (3) TMI 1452X X X X Extracts X X X X X X X X Extracts X X X X ..... m interest u/s 80E - HELD THAT:- The power of rectification under section 154 can be exercised only when the mistake, which is sought to be rectified, is an obvious patent mistake, which is apparent from the record and not a mistake, which is required to be established by arguments and long drawn process of reasoning on points, on which there may conceivably be two opinions. In the present case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Revenue : Shri D.L. Sharma, Sr.DR ORDER PER RAJPAL YADAV, JUDICIAL MEMBER: The assessee is in appeal before us against the order of ld.Commissioner Income-Tax (Appeals)-7, Ahmedabad dated 7.5.2015 passed for the Asstt.Year 2011-12 2. Solitary grievance of the assessee is that ld.First Appellate Authority has erred in confirming the addition of Rs.31,959/-, which was disallow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring interest expense on the loan taken for the purpose of education for himself/herself or for their relatives. The ld.AO has observed that the education loan was taken by the married major son of the assessee, and therefore, cannot claim interest under section 80E of the Income Tax. The AO rectified the assessment order under section 143(3). He disallowed a sum of Rs.39,959/- and determined taxa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the provisions of this section, any amount paid by him in the previous year, out of his income chargeable to tax, by way of interest on loan taken by him from any financial institution or any approved charitable institution for the purpose of pursuing his higher education 97 [or for the purpose of higher education of his relative]. 7. A perusal of the above section would indicate that if an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as taken the loan etc. It will require long drawn process of hearing. It is a debatable question. The assessee annexed form no.16 along with her return and shown the deduction under section 80E. This step must have been taken by the designated employer or by the assessee after due consideration of section 80E and loan documentation. Such stand can be dispelled after perusal of the loan documents a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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