Rectification of mistake ::

Court :
HC

Brief :
Held by the hon`ble bench that as the carry forward of loss is permitted only when the return is filed within due date of filing of return, the mistake is apparent from the records, thus the A.O. can rectify the same by passing a order under section 154.

Citation :
Rajiv Gupta Vs. I.T.O. 03/20/2007 [2008] 297 ITR (AT) 1 Chandigarh

Rectification of mistake Rajiv Gupta Vs. I.T.O. 03/20/2007 [2008] 297 ITR (AT) 1 Chandigarh Case Fact: Whether Long Term Capital Loss claimed by the assessee in the belated Income Tax Return wrongly allowed by the A.O. to carry forward can be rectified by the A.O. in susequent Assessment year? Decision: Held by the hon`ble bench that as the carry forward of loss is permitted only when the return is filed within due date of filing of return, the mistake is apparent from the records, thus the A.O. can rectify the same by passing a order under section 154.