TMI Blog2018 (6) TMI 1683X X X X Extracts X X X X X X X X Extracts X X X X ..... rom 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to rectify the order of assessment on the ground that the assessee did not show any long-term capital gains in the return of income for the relevant assessment year of 2003-04. The Assessing Officer perceived that such error was apparent from the record and proceeded to pass an order upon notice to the assessee. An additional claim was made. The Commissioner (Appeals) found that there wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... losed 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. ITAT No.180 of 2014 and GA No.4075 of 2014 are dismissed. There will b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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