Assessee was entitled for a statutory deduction of fifty per cent of interest income, but he failed to raise such a claim in his return, he moved an application under section 154 before Assessing Officer. Assessing Officer rejected the claim. On appeal the Tribunal held that  since assessee had in his return of income duly reflected interest on compensation qua compulsory acquisition of his agricultural land, failure on his part to raise a claim for deduction under section 57(iv), being clearly in nature of glaring, apparent, patent and obvious mistake from record, rendered order passed by Assessing Officer amenable for rectification under section 154 and, thus, Assessing Officer was directed to allow assessee’s claim for deduction under section 57(iv) of the Act. (AY. 2012-13)