Law:

Section:

Keywords: Result: Appeal accepted ORDER These appeals by an AOP arise out of order passed by the IAC under section 66A in exercise of his revisionary jurisdiction. 2. It is the appellant's contention that it's Return of Income for 2000-2001 had been rightly accepted as filed as it was consistent with the conditionalities as laid down in the Self-Assessment Scheme for the year. 3. AR of appellant explains that the IAC has acted under section 66A on the wholly mistaken view that (i) tax demand incidental to declared income had been wrongly calculated and (b) "lump sum" addition made to declared income was violative of the conditionalities laid down in the SAS for the year and consequently he had held that the Return was required to have been ousted from SAS and processed under Normal Law which was not done and instead the allegedly 'defective' Return was accepted under section 59A thereby justifying intervention by the IAC under section 66A as the assessment made under section 59A IA was allegedly both erroneous and prejudicial to revenue. The AR submits that the income-tax demand on declared income of Rs.1310653 cited by the appellant in it's Return for the year indeed aggregates Rs.348401 and not Rs.253144 as wrongly calculated by the IAC. Secondly, the AR emphasizes that the appellant has not in fact made any ad hoc lump sum addition to declared income as alleged by the IAC and instead it is submitted that and backs of inadmissible claim out of P&L expenses had been made Headwise totalling Rs.510653 and added back to the declared income as per P&L A/c of Rs.800,000 to evolve Total Income of Rs.1310653 and it is vehemently asserted that there was absolutely nothing wrong with this methodology in the context of SAS for 2000-2001 as this was…

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