ITAT Condones Delay, Restores Appeal Challenging Capital Gain Hike Due to Clerical Error

Eagle Fashions Private Limited Vs Deputy Director of Income Tax (ITAT Surat) The Income Tax Appellate Tribunal (ITAT), Surat Bench, in the case of Eagle Fashions Private Limited Vs Deputy Director of Income Tax, has condoned a significant delay in the assessee’s filing of an appeal before the Commissioner of Income Tax (Appeals) [CIT(A)] and restored the matter for a decision on its merits. The Tribunal ruled that the delay was justified as the assessee was diligently, and in good faith, pursuing an alternative remedy of rectification for what was claimed to be a simple clerical error in...