Rectification of mistak

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SAYED MUJEEB (Querist)

06 January 2014 1. Exempt income wrongly disclosed in Taxable income.
2. Assessing officer issued Demand notic.
2. I filed Rectification request
3. AO Asked for case law for similar situation. or els he will issue notice for proceding.

Anumanchipalli Sathikonda

Anumanchipalli Sathikonda (Expert)

06 January 2014 Mr.Syed Mujeeb

Your question is not clear. You must give details of income which you are claiming as exempted income. AO is correct in asking for case law to support your case that the income which you claimed as exempted one is an exempted income.

Best Wishes

SathikondaA

SAYED MUJEEB

SAYED MUJEEB (Querist)

07 January 2014 income exempt is : Share in profit from partnership firm

how ever it is wrongly included in taxable income may be due to problem of Software i was using.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)

09 January 2014 Share in profit from partnership firm is statutorily exempt u/s 10(2A) hence AO is bound to give benefit of exemption on rectification request. If AO does not give benefit on rectification request then let him raise demand which can then be appealed against before CIT(A) and he will definitely quash such demand. You may file supporting documents as evidence for share in profits of partnership firm to the AO.

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