Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (6) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (6) TMI 1683 - HC - Income TaxRectification of mistake u/s 154 - assessee did not show any long-term capital gains in the return of income for the relevant assessment year - HELD THAT:- The concurrent findings of the appellate authorities below appropriately recorded that a mistake apparent from the record had to be an obvious and patent mistake and not something which could be established by a long-drawn process of arguments or reasoning. The Supreme Court view on the relevant provision is also on similar lines. Since both appellate authorities below found, as a matter of fact, that the Assessing Officer could not have reopened the matter on the basis that long-term capital gains had not been disclosed by the assessee, the order impugned herein does not call for any interference. The appellate authorities below were perfectly justified in holding that the issue as to capital gains was a matter of argument, reasoning and investigation which could not be regarded as a mistake apparent from the records.
|