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2020 (8) TMI 846 - AT - Income TaxRectification of mistake u/s 254 - deduction u/s 54 - assessee has pointed out that even after allowing deduction u/s. 54 of the Act, there would still be long term capital gain that would be chargeable to tax - Tribunal has proceeded on the basis that consequent to allowing deduction u/s. 54, there would be no long term capital gain that would remain for taxation - HELD THAT:- There is a mistake apparent on the face of record inasmuch as even after allowing deduction u/s 54 of the Act, there would still be long term capital gain that would be chargeable to tax and therefore the question of period from which indexation benefit should be allowed to the assessee ought to have been adjudicated. We accordingly recall the order of the Tribunal dated 30.12.2019 for the limited purpose of examining the question with reference to period for which the assessee should be allowed the benefit of indexation while computing the long term capital gain. The Registry is directed to post the appeal for hearing in due course with notice to the parties.
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