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The Tax Publishers2020 TaxPub(DT) 2356 (Kol-Trib) INCOME TAX ACT, 1961
Section 154
As there was only a clerical mistake committed by office staff of tax advisor of assessee in not claiming set off of long-term capital losses against long-term capital gain for year under consideration while filing the return on-line, keeping in mind the system of e-filing of the returns, the AO was directed to rectify the intimation issued under section 143(1) as sought by assessee thereby allowing the claim of assessee for set-off of long-term capital losses carried forward from the earlier years against the long-term capital gain for the year under consideration.
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Rectification - Mistake apparent - Mistake in intimation issued under section 143(1) in as much as long-term capital losses carried forward from earlier years were not set off against long-term capital gain for year under consideration -
Assessee's return of income for year under consideration was processed under section 143(1). According to assessee, there was a mistake in the said intimation issued under section 143(1) in as much as long-term capital losses carried forward from earlier years were not set off against long-term capital gain for the year under consideration. She, therefore, filed an application under section 154 seeking rectification of the said mistake. AO, however, found that the assessee did not claim such set off in the return of income filed for the year under consideration and accordingly he concluded that there was no mistake in the intimation issued under section 143(1) and hence, rejected the application filed by the assessee under section 154. Held: It was not in dispute that long-term capital losses carried forward from earlier years were shown by assessee in her return of income filed for year under consideration. There was only a clerical mistake stated to be committed by office staff of tax advisor of the assessee in not claiming set off of the said losses against long-term capital gain of the year under consideration while filing the return on-line. Considering the fact that e-filing of return which is totally depended upon the usage of software, it is possible that some clerical errors may occur at the time of entering the data in the electronic form. Keeping in mind the system of e-filing of the returns, the AO was directed to rectify the intimation issued under section 143(1) as sought by the assessee thereby allowing the claim of the assessee for set off of long-term capital losses carried forward from the earlier years against the long-term capital gain for the year under consideration.
Followed:Shrikant Real Estates (P.) Ltd. v. ITO (ITA No. 4304/Mum/2012, dated 19-10-2012): 2013 TaxPub(DT) 0472 (Mum-Trib)
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
IN THE ITAT, KOLKATA BENCH
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