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2019 (4) TMI 772 - AT - Income TaxRectification of mistake - Correction of a mistake crept in the computation statement of income - assessee by an inadvertent mistake state the cost of acquisition as ₹ 2 lakh in place of ₹ 20 lakhs - HELD THAT:- In the present case, the assessee is not claiming any new/additional deduction. The prayer is to adopt the correct amount of Capital Gains, the particulars of which have already been furnished to and available with the Assessing Authority. Therefore, the decision rendered in the case of Goetze (India) Ltd. Vs. CIT [2006 (3) TMI 75 - SUPREME COURT] does not apply. CBDT Circular No. 14(XL35) dated 1110411955 provides for responsible assessment that the Assessing Authority to have reasonable approach in completing an assessment, to grant lawful and eligible deduction to the assessee, even if it was not claimed by the assessee. Assessing Authority has to see that the Income of the assessee has been determined after allowing all the lawful outgoings and statutory deductions. The recent judgment in the case of Raghavan Nair v. ACIT [2018 (1) TMI 863 - KERALA HIGH COURT] had held that it is the duty of the Assessing Officer to refrain from assessing an non-taxable income returned by the assessee on mistaken understanding. We are of the view that the assessee is entitled to the relief sought for in this appeal. - Decided in favour of assessee.
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