Appeal

Tax queries 600 views 5 replies

Bala

Student

498 Points Joined February 2010

Friends Pls help in this issue...X filed his return concealing his property income....... The AO added the property income without allowing the standard deduction and completed the assessment u/s 143(3). Can an appeal be filed with the CIT (Appeals) claiming the standard deduction... Is there any relevant case law !!!!!!!!!!!!!!!111

Replies (5)

Bala

Student

498 Points Joined February 2010

Notice of Demand u/s 156 was issued... The time limit of 30 days was not yet lapsed

Amir

Learner

4016 Points Joined December 2009

Dear Balakrishnan,

AO cannot overrule the provisions while doing assessment, Standard deduction of 30% has to be allowed in case of concealed income also.

If AO want to penalize assessee then he can Impose penalty for concealment u/s 271(1)(c) upto 3 times the tax sought to be evaded, but cannot deprive assessee from claiming the deduction.

I think first move an application u/s 154, as a mistake apparent from the record & if AO still not allow ur claim then file a appeal to CIT(A)