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Section 154 Rectification Allowed for Inadvertent LTCG Error in ITR: ITAT Kolkata

Case Law Details

Case Name
Surajit Ghosh Vs ITO (ITAT Kolkata)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2021-22
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Surajit Ghosh Vs ITO (ITAT Kolkata) Summary: The Kolkata Bench of the Income Tax Appellate Tribunal considered whether an inadvertent error committed by the assessee while filing the return of income could be rectified under Section 154 of the Income-tax Act. The assessee had mistakenly selected the acquisition period of certain mutual fund units as “on or after 31.01.2018” instead of “on or before 31.01.2018” in Schedule 112A, resulting in incorrect computation of long-term capital gains and a tax demand. The Assessing Officer rejected the rectification application on...
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Author Info

CA AJAY KUMAR AGRAWAL
Qualification: CA in Practice
Company: AJAY K AGRAWAL AND ASSOCIATES
Location: NEW DELHI, Delhi
Articles Published: 260

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