Interest on capital -error


(Guest)

Hi all,

Please help me with this . In Ay 2013-14 the interest on partner's capital was errousnously credited to more to one partner and less to other partner. The total interest on both parther's capital is 12%. In fact the figures were just interchanged.

There was no loss to revenue as one partner claimed less by 100000 and the other claimed more by 100000 (more than 12%). Now the AO wants to disallow the excess interest claimed. Are there any case laws where such unintentional mistake was condoned? or can we atleast recalculate remuneration?

 

Thanks