Deduction under section 88 and 88c
This query is : Resolved
jigar Dedaniya
(Querist)
21 January 2013
Dear Expert,
Assessee failed to take deduction under section 88&88C for AY 03-04 (as it was manual filling assessee has attached computation and all other document relating to Deduction with return of income).
AO has not given the relief under the above section.
What is the remedy available to assessee for claiming deduction as on now?
Assessee failed to take deduction under section 88&88C for AY 03-04 (as it was manual filling assessee has attached computation and all other document relating to Deduction with return of income).
AO has not given the relief under the above section.
What is the remedy available to assessee for claiming deduction as on now?
CA PARAS BAFNA
(Expert)
21 January 2013
In case AO has passed an order you can apply for Rectification U/s 154 as the computation shows the relevant details.
.
The wordings of Section 88 and 88C -
"Shall be entitled to a deduction from the amount of income- tax" is different from present section 80C " there shall be deducted".
.
In the first case in my view the word
"entitle" shifts onus on the AO to allow the deduction in genuine cases even if not claimed. Entitlement, is ultimately given under the Act and in such cases assessee's role remains as a recipient.
.
.
The wordings of Section 88 and 88C -
"Shall be entitled to a deduction from the amount of income- tax" is different from present section 80C " there shall be deducted".
.
In the first case in my view the word
"entitle" shifts onus on the AO to allow the deduction in genuine cases even if not claimed. Entitlement, is ultimately given under the Act and in such cases assessee's role remains as a recipient.
.
jigar Dedaniya
(Querist)
29 January 2013
Thank you CA Paras Bafna
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