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2020 (11) TMI 605 - AT - Income TaxRectification of mistake - Carry forward loss not shown - HELD THAT:- We find that the AO nor the CIT(A) did not look into the financial statements rectifying the mistake showing the opening stock on 01-04-2011. We note that the assessee raised the same before the CIT(A) but however he found that the assessee filed no such materials to demonstrate as to which caused such gross inadvertent mistake of not disclosing a huge amount of ₹ 70,00,000/-. As discussed above, the ld. AR prayed before this Tribunal to remand the matter to the file of AO for its proper verification of its account in determining the actual loss. DR agreed, reported no objection in remanding the matter to the file of AO. Taking into consideration the peculiar facts and circumstances of the case and in view of the discussion made here-in-above, we deem it proper to remand the matter to the file of AO for its fresh consideration to determine the actual loss for the year under consideration and subsequent assessment years. The assessee is liberty to file evidences, if any, in support of its claim. Thus, the order of CIT(A) is not justified and it is set aside. Accordingly, only ground raised by the assessee for A.Y. 2012-13 is allowed for statistical purpose.
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