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TMI Blog2023 (12) TMI 274X X X X Extracts X X X X X X X X Extracts X X X X ..... 021 A.Y 2021 22 along with the computation of income disclosing the rental income under Income From house Property . Further the Ld.AR highlighted on the Tax Audit report U/sec 44AB of the Act along with the Form. 3CB CD in support of the Income from business and profession and the total income cannot exceed Rs. 38,69,300/-. Prima facie, we find there is no dispute on the disclosure of income and cannot be taxed twice and the revenue has been accepting consistent accounting system adopted by the assessee. Accordingly, we considering the facts and circumstances, set-aside the order of the CIT(A) on the disputed issue of sustaining the addition made by the CPC and direct the assessing officer to delete the addition and allow the grounds ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act dated 08.07.2022 with addition under income from business and profession of Rs. 42.53.710/- and the total income was determined at Rs. 79,36,013/-. Subsequently the assessee has filed the rectification petition on 02.08.2022 against the order u/s 143(1) of the Act. Whereas the AO has sustained the addition and dismissed the rectification petition and passed the order u/s 154 of the Act dated 01.12.2022. 3. Aggrieved by the order, the assessee has filed an appeal before the CIT(A), whereas the CIT(A) has considered the grounds of appeal, submissions of the assessee and findings of the AO and has partially granted relief to the assessee considering the facts of offering of income in the ITR but has sustained the addition of the CPC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disclosed income from house property after claiming deduction U/sec 24 of the Act at Rs. 12,82,400/- and similarly income from business Profession of Rs. 11.04,319/- and Income from other sources of Rs. 14,82,581/- and Gross total income was aggregated to Rs. 38,69,300/- and after claiming the deduction Under Chapter VIA of Rs 1, 85,000/- the taxable Total income is Rs. 36,84,300/- Further, as per order U/sec143(1) of the Act the total income provided/ offered by the assessee is Rs. 36,84,300/- and income computed U/sec 143(1) of the Act was determined at Rs. Rs. 79,36,013/- and rectification petition u/sec 154 of the Act was rejected. Prima facie on verification of the facts and evidences substantiating the claim, the total income as pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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