Genuineness of investment evidence determines LTCG entitlement; non specific regulatory reports cannot displace transaction specific documentary proof...
Import entitlement for repairs and after sales service extends to authorised service agents; provisional release allowed subject to bond and quantitat...
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Rectification is available for a mistake apparent from the record, and the record is not confined to the assessment order or intimation alone. A wrong entry in the return showing mutual fund units as acquired on or after 31.01.2018 could be corrected where supporting material in the assessee's record showed acquisition before that date. The authorities were not justified in refusing rectification merely because the correction would alter total income. The matter was restored for verification of the evidence and recomputation of long-term capital gains on the basis that the units were acquired prior to 31.01.2018.
Rectification is available for a mistake apparent from the record, and the record is not confined to the assessment order or intimation alone. A wrong entry in the return showing mutual fund units as acquired on or after 31.01.2018 could be corrected where supporting material in the assessee's record showed acquisition before that date. The authorities were not justified in refusing rectification merely because the correction would alter total income. The matter was restored for verification of the evidence and recomputation of long-term capital gains on the basis that the units were acquired prior to 31.01.2018.
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